Winn-Dixie Reports 4th-quarter Profit

JACKSONVILLE, Fla. (AP) - Grocery-store chain Winn-Dixie, which emerged from Chapter 11 bankruptcy in November, said Tuesday it swung to a profit in the fiscal fourth quarter due to sales growth and cost-cutting measures.

Net income for the quarter ended June 27th totaled $20.6 million, or 38 cents per share, versus a loss of $17.2 million, or 12 cents per share, in the prior-year quarter.

Revenue rose nearly 2 percent to $1.68 billion from $1.65 billion last year.

Same-store sales grew 1.3 percent during the quarter. Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Winn-Dixie currently operates 521 stores in Florida, Alabama, Louisiana, Georgia and Mississippi. The company said it predicts fiscal 2008 same-store sales will see slight growth, and gross margin also is expected to improve.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

You must be logged in to post comments.

Password (case sensitive):
Remember Me:
WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 9427736 -
Gray Television, Inc.