Inflation Lifts Winn-Dixie Sales While Earnings Slide

JACKSONVILLE, Fla. — Food price inflation and the timing of the Easter holiday helped Winn-Dixie Stores here post a sales gain during its fiscal third quarter ended April 2, the company said yesterday. Net sales for the 12-week period of $1.7 billion represented a 2.3% increase over the same period a year ago. For the 40 weeks year-to-date, net sales of $5.6 billion increased 1.2%. The company said larger average baskets, impacted by food price inflation, as well as an earlier Easter holiday contributed to the rising sales while transaction counts decreased for the quarter. Comparable sales were up 2.2% for the quarter and 1% for the 40 weeks. Net income of $15 million, or 28 cents a share, was down 15.7% for the quarter as income tax and fuel expenses increased, as well as costs to fund a store renovation program.

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