Winn-Dixie tallies Q4, full fiscal year results

Sept. 9, 2010
Winn-Dixie Stores Inc (NASDAQ:WINN), the Jacksonville FL-based supermarket chain, reported its financial results for the fourth quarter and fiscal year 2010, 13-week and 53-week periods, which ended June 30, 2010.

Winn-Dixie Stores Inc (NASDAQ:WINN), the Jacksonville FL-based supermarket chain, reported its financial results for the fourth quarter and fiscal year 2010, 13-week and 53-week periods, which ended June 30, 2010.

Net sales for the 13-week fourth quarter of fiscal 2010 were $1.7 billion, an increase of $30.1 million, or 1.8% compared with the 12-week fourth quarter of fiscal 2009. This increase was due to the additional week in fiscal 2010. On a comparable 12-week basis, identical store sales from continuing operations, which exclude stores that opened or closed during the quarter, decreased 5.2% for the fourth quarter versus the same period in the prior fiscal year.

Net income for the 13-week fourth quarter of fiscal 2010 was $14.0 million, compared with net income of $9.4 million for the 12-week fourth quarter of fiscal 2009.

For the 53 weeks of fiscal 2010, net sales were $7.2 billion, a decrease of $119.2 million, or 1.6%, compared with the 52 weeks of fiscal 2009. On a comparable 52-week basis, identical store sales from continuing operations, which exclude stores that opened or closed during the year, decreased by 2.9% for fiscal 2010 as compared to fiscal 2009.

Net income for the 53 weeks of fiscal 2010 was $28.9 million, in contrast to net income of $39.8 million for the 52 weeks of fiscal 2009.

As of June 30, 2010, Winn-Dixie had approximately $649.7 million of liquidity, comprised of $497.4 million of borrowing availability under its credit agreement and $152.3 million of cash and cash equivalents. Capital expenditures for fiscal 2010 were about $189.1 million.

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