Winn-Dixie Soars on Earnings Surprise

JACKSONVILLE, Fla. — Shares in Winn-Dixie traded up sharply Monday after the company reported quarterly results that were considerably better than analysts had anticipated. The retailer reported a net loss of $800,000, or 1 cent per share, on sales of $1.6 billion during its 12-week fiscal first quarter, which ended Sept. 19. EBITDA of $19.5 million increased by $30.6 million over the same period a year ago. Karen Short, an analyst following Winn-Dixie for Friedman Billings Ramsey, New York, had expected Winn-Dixie to lose 10 cents per share and to report EBITDA of $13.4 million. Overall sales increased 0.7% compared with the same period last year, with comparable-store sales up by 0.2%, the company said. Winn-Dixie officials in a conference call Monday credited the performance to generating more profitable sales by better balancing its promotional spending and better positioning its stores to local neighborhoods. Stock in Winn-Dixie Monday was up $3.55, or nearly 20% for the day.

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