US retailer Winn-Dixie Stores has seen its half-year sales inch up 0.7% as the company pushes on with its turnaround plan.
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The company posted net sales of US$3.9bn for the six months to 9 January. Underlying EBITDA climbed to $41.1m, compared to a loss of $10.6m.
Winn-Dixie upped its target for underlying EBITDA to $105-125m, up from $90-115m, following a stronger than expected second quarter.
“Winn-Dixie had a truly outstanding quarter,” said chairman, CEO and president Peter Lynch. “We improved our profitability by effectively managing our promotional spending, while simultaneously growing our identical store sales.
During its second quarter, net sales rose 0.7% to $2.2bn. Underlying EBITDA reached $21.6m, compared to $500,000 a year earlier.
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