Winn-Dixie Shares Tumble on Loss Projection

Stock in Winn-Dixie Stores fell by more than 20% yesterday after executives acknowledged the retailer is likely to lose money in its current fiscal year.

JACKSONVILLE, Fla. — Stock in Winn-Dixie Stores here fell by more than 20% yesterday after executives acknowledged the retailer is likely to lose money in its current fiscal year. Expenses related to a store remodeling program, and non-cash items like depreciation and amortization, stock compensation expense and other charges, will exceed adjusted EBITDA in the 2008 fiscal year, which began June 28, according to Bennett Nussbaum, Winn-Dixie’s chief financial officer, speaking in a conference

Register to view the full article

test - Advanced Registered User

Already a member? .

TAGS: News