Winn-Dixie 3Q net income up, sales even

by Bryan Salvage
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JACKSONVILLE, Fla. – Winn-Dixie Stores Inc. announced for the third quarter of fiscal 2011 ending April 6, net income of $23.4 million, or $0.42 per diluted share, compared to net income of $20.9 million, or $0.38 per diluted share, for the same period in the prior fiscal year. Net sales were $1.6 billion, essentially even compared to the same period in the prior fiscal year.

Adjusted EBITDA was $55.2 million in the third quarter of fiscal 2011, an increase of $4.1 million compared to the same period in the prior fiscal year.

“Overall, we are pleased with our third quarter results,” said Peter Lynch, chairman, CEO and president. “We strategically managed our promotional activity and merchandising efforts in this inflationary environment to drive improvements in both adjusted EBITDA and gross margin, while still offering good value to our guests. Based on year-to-date performance and positive fourth quarter-to-date identical store sales, we remain on track to achieve our financial guidance for the fiscal year.”

Winn-Dixie Stores Inc. is one of the nation’s largest food retailers. As of April 6, it operated 484 retail grocery locations with 75 liquor stores and four fuel centers at the retail stores and 379 in-store pharmacies, in Florida, Alabama, Louisiana, Georgia, and Mississippi.
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