Winn-Dixie Sees Sales Accelerate

JACKSONVILLE, Fla. — Winn-Dixie Stores here on Monday said it expects to report identical-store sales gains of 3.2% for the fourth quarter, which ended June 29, and ID declines of 0.1% for the full fiscal year.

JACKSONVILLE, Fla. — Winn-Dixie Stores [3] here on Monday said it expects to report identical-store sales gains of 3.2% for the fourth quarter, which ended June 29, and ID declines of 0.1% for the full fiscal year.

Net income from continuing operation is expected to be about $5 million for the quarter, vs. $16 million in the year-ago quarter. Sales in the most recent quarter were $1.6 billion, vs. $1.7 billion in the year-ago period, which included an extra week.

For the full year, the company expected to report a net loss of continuing operations of about $30 million, vs. net income from continuing operations of $37 million. Sales for the full year are expected to total $6.9 billion, vs. $7 billion in the preceding year, which also had an extra week.

"We began the year in one of the most difficult environments in years, and by remaining true to our strategy and keenly focused on execution, we were able to strengthen our results significantly during the second half of the year," said Peter Lynch, chairman, president and chief executive officer.

The company said it expects to report more detailed financial results for the year on Aug. 29.