JACKSONVILLE, Fla. — Winn-Dixie Stores here reported lower sales and EBITDA for the third quarter that ended March 31.
Net income for the 12-week quarter rose 26% to $209 million, while adjusted operating cash flow declined 13% to $50 million; sales fell 2.3% to $1.7 billion, and identical-store sales dropped 2.2%. For the 40-week period, EBITDA declined 13.9% to $103.3 million, with net income down 50.9% to $14.9 million; sales declined 2.6% to $5.5 billion, and ID sales fell 2.3%.
The company said its 51 offensive remodel stores, which are still within their first year of operation, had a 6.3% weighted average sales increase for the quarter and a 6% weighted increase for the year-to-date, excluding the grand reopening phase. However, overall sales continued to be impacted negatively by the challenging economic environment and the continued mix shift from branded pharmaceuticals to generic brands, the company noted.
"Results were in line with our expectations," said Peter Lynch, chairman, president and chief executive officer. "Although the pace of the economic recovery remains uncertain, we will continue to focus on balancing sales and gross margin with unique merchandising and marketing programs tailored to meet the shopping needs of our customers."
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