JACKSONVILLE, Fla. -- Winn-Dixie Stores here reported slight gains in net earnings and sales for the first quarter ended Sept. 18.
ile average-store sales were up 1.5%, the chain said.
Net income in the quarter climbed 2.5% to $47 million from $45.9 million in the prior-year period, with earnings per share remaining virtually flat. Operating income increased 1.4% to $51.6 million from $50.9 million a year before.
James Kufeldt, Winn-Dixie's president, said he was disappointed with the company's slim first-quarter gains but expected stepped-up merchandising -- primarily a new price-lowering program -- and more cost control to lift results in the rest of the year.