Winn-Dixie Quarterly Profits Quadruple
Winn-Dixie Stores Inc. says fiscal third-quarter earnings rose fourfold from a year ago, when it was burdened with the cost of remodeling stores. Net earnings, including a charge for the early retirement of debt, were $44.3 million, or 31 cents per diluted share, compared with $10.7 million, or eight cents, last year. The company reported earnings of $46.6 million, or 33 cents a share, before items for the quarter ended April 3.
The supermarket chain, which operates more than 1,140 stores, has shed unprofitable food lines and departments as it restructured to be more competitive with Wal-Mart Stores Inc.
Moderator Comment: Can Winn-Dixie compete with Wal-Mart’s
Supercenter and Neighborhood Market formats?
Winn-Dixie can do it. It will need to make good on the
promise of its brand marketing if it hopes to achieve its goals, “real good
food, from real good people at a real good price.” [George
Anderson – Moderator]