Winn-Dixie endures unexciting fiscal results
Feb 14, 2005 9:30 AM, from staff and wire reports
Winn-Dixie Stores Inc announced financial results for the second quarter of its 2005 fiscal year, which ended Jan 12, 2005.
During the second quarter of fiscal 2005, the Jacksonville FL-based supermarket chain had a net loss from continuing operations of $327.4 million, compared with a net loss from continuing operations of $65.7 million during the second quarter of fiscal 2004. Sales from continuing operations for the 16 weeks ended Jan 12, 2005, were $3.1 billion, a decrease of 4.7% from the same quarter a year earlier.
Peter Lynch, president and chief executive oficer, said, “The decline we have experienced needs to be addressed swiftly, and we intend to do so. Having spent the last two months taking an in-depth look at the company and visiting over 50 stores across our chain, it’s clear to me that Winn-Dixie has both serious challenges and significant opportunities. The company has great locations in many desirable markets, but the merchandising in many locations needs improvement, and there is a lack of excitement in the stores.”
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