US retailer Winn-Dixie Stores, at its annual shareholders’ meeting today [Wednesday], announced sales up 0.9% for its first quarter of fiscal 2003.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Sales from continuing operations for the 12 weeks ended 18 September 2002 were US$2.8bn, an increase of $25.0m or 0.9% when compared with the same quarter last year. For the quarter, identical store sales, which include enlargements and exclude the stores that opened or closed during the period, increased 2.0%. Comparable store sales, which include replacement stores, increased 2.1% for the quarter. 
 
Net earnings were $34.8m, or $0.25 per diluted share compared to $22.4m, or $0.16 per diluted share, an increase of 55.3%, the company said. Net earnings from continuing operations for the 12 weeks ended 18 September 2002 were $34.8m, or $0.25 per diluted share, an increase of $3.7m or 12.0% when compared with the same quarter last year. Increased earnings were primarily due to improved sales and gross margins as a result of the company’s marketing initiatives, improvements in procurement and shrink reduction initiatives. The improved earnings were achieved despite costs related to the “Customer Reward Card” rollout in the Montgomery and New Orleans divisions.


During the 12 weeks ended 18 September 2002, the company opened two new stores and closed two existing stores. A total of 1,073 locations were in operation on 18 September 2002, compared to 1,153 on 19 September 2001. During the fourth quarter of fiscal year 2002, the company closed 76 stores related to discontinued operations. As of 18 September 2002, retail space totaled 47.5m sq ft compared to 51.1m sq ft in the prior year.


 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.