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Winn-Dixie’s Q4 Earnings Cut in Half

By Market News Video Staff, Tuesday, August 30, 9:15 AM ET
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Grocery store chain Winn-Dixie (NASDAQ:WINN) posted fourth quarter earnings after the close of trading yesterday that were nearly cut in half.

Profits fell to $7.3 million, or $0.13 per share, from $14 million, or $0.25 per share, in last year’s fourth quarter. Net sales fell 3.8%, to $1.6 billion, although Winn-Dixie blamed the decline on a this year’s fourth quarter being a week shorter than last year’s.

Same-store sales rose 3.2%. Per-share results were just ahead of analyst expectations, while revenue met analyst forecasts. Winn-Dixie is looking for same-store sales growth of more than 3% in the first two quarter of the new fiscal year.

Other companies operating in Winn-Dixie’s space include SuperValu (NYSE:SVU), Safeway (SWY), and Kroger (NYSE:KR).

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