US supermarket group Winn-Dixie has posted a decline in sales during the third quarter, although income jumped on a change in accounting rules for income taxes.
The company posted a 26% increase in net income, which rose to US$209m. However, sales fell 2.3% to $1.7bn, while ID sales dropped 2.2%.
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In the year-to-date period, Winn-Dixie said EBITDA fell 13.9% to $103.3m, while net income plunged 50.9% to $14.9m and sales slid 2.6%.
Nevertheless, Winn-Dixie said that it remained committed to its “offensive” store remodelling.
“Results were in line with our expectations,” said Peter Lynch, chairman, president and CEO. “Although the pace of the economic recovery remains uncertain, we will continue to focus on balancing sales and gross margin with unique merchandising and marketing programs tailored to meet the shopping needs of our customers.”
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