Search
 

Winn-Dixie Tells Shareholders the Worst is Over

ORLANDO-The nation's sixth largest supermarket chain is confident the red ink has been stanched on its balance sheet and feels its current management and store restructuring will prevent a repeat of the unprecedented first quarter's 57% profit drop.

By Alex Finkelstein | Updated on October 05, 2000

ORLANDO-Winn-Dixie Stores Inc., the nation’s sixth largest supermarket chain, tells shareholders at its annual meeting the worst is over in the profits-and-loss column.

The 75-year-old, Jacksonville, FL-based grocer is confident the red ink has been stanched on its balance sheet and feels its current management and store restructuring will prevent a repeat of the unprecedented first quarter’s 57% profit drop.

That may take some doing. In the first half, the 1,079-store company lost $229 million. Winn-Dixie shares are down 75% from early 1998. The stock is trading at the $14 mark on the New York Stock Exchange.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.