USA: Winn-Dixie reports increased earnings
Winn-Dixie Stores, Inc. (NYSE: WIN) announced sales and results of operations for its second quarter of fiscal 2001. Sales for the 16 weeks ended January 10, 2001 were $4.0 billion, a decrease of $319.7 million or 7.5% compared with the same quarter last year. For the 28 weeks ended January 10, 2001, sales were $6.9 billion, a $541.0 million decrease, or 7.3% under the prior year. Average store sales increased 0.9% for the quarter and 1.4% for the year. Identical store sales decreased 4.1% for the quarter and 3.7% for the year. Comparable store sales, which include replacement stores, decreased 3.9% for the quarter and 3.4% for the year. Identical and comparable sales decreased largely because of the elimination of unprofitable sales departments (melon bars, salad bars, dry cleaners, etc.), as well as a reduction in the number of 24-hour stores and construction disruptions from numerous store modifications (retrofits). During the second quarter, 537 locations had construction in progress due to the retrofit activity.
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