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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 (NYSE:SWY), and Kroger (NYSE:KR).


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This Article's Word Cloud:   Call   Definition   Definitions   Dixie   Earnings   Grocery   Kroger   NYSE   Nasdaq   Other   Profits   Relevant   Safeway   Sale   Share   Short   Stock   Winn   after   ahead   although   analyst   chain   companies   earnings   expectations   fell   first   fiscal   forecasts   fourth   growth   include   just   last   looking   million   nearly   posted   quarter   revenue   sales   share   store   than   trading   were   while   year   yesterday
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