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 (NYSE:SWY), and Kroger (NYSE:KR).
This Article's Word Cloud:CallDefinitionDefinitionsDixieEarningsGroceryKrogerMarketNYSEPriceProfitsSafewaySaleSameShareShortWinnaheadalthoughanalystbeingblamedchaincompaniesdeclineearningsexpectationsfellfiscalforecastsfourthfromlastmillionmoreoperatingpostedquarterrevenuerosesalesshareshorterstorethanthatthistradingwereyear
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.