Publix’s net earnings almost doubled last year amid higher sales despite cost of living pressures.

The employee-owned supermarket chain’s net earnings stood at $4.3 billion, up 49 per cent from the prior year, which had 53 weeks of operations.

The company’s annual sales rose 4.7 per cent to $57.1 billion as comparable store sales increased 4.2 per cent.

During the year, Publix operated 1366 stores across Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky.

This year, the company opened its first Publix Liquors site outside Florida with the inauguration of its first store in Kentucky.