JACKSONVILLE, Fla. — Winn-Dixie Stores here said Monday net income declined during the fourth quarter, which ended June 29, and the company posted a loss for the full year, though transformational remodels continue to generate strong sales.
Peter Lynch, chairman, president and chief executive officer, said Winn-Dixie's financial performance improved in the second half of the fiscal year, "and we enter fiscal 2012 as a stronger company. Through the first two fiscal periods of the new year, the momentum we established has resulted in [identical-store] store sales growth in excess of 3%."
Net income for the 12-week fourth quarter fell 47.8% to $7.3 million, compared with a 13-week quarter a year ago, with income from continuing operations dropping 65% to $5.6 million; as previously announced, sales for the quarter fell 3.8% to $1.6 billion, while identical-store sales, adjusted for the extra week, rose 3.2%. Basket size was up 3.9%, and transaction count was down 0.7%.
For the 52-week fiscal year, the company reported a loss of $70.1 million, compared with net income in the prior year, with a loss of $29.8 million from continuing operations. As previously announced, sales for the year fell 1.4% to $6.9 billion, with adjusted ID sales down 0.1%, basket size up 1.3%and transaction count down 1.5%.
The company said ID sales for the quarter and full year were impacted negatively by competitive activity, partially offset by inflationary price increases, an increase in sales at remodeled stores and favorable results from the company's computer-generated ordering and fuelperks initiatives.