Winn-Dixie reports drop in Q1 sales
JACKSONVILLE, Fla. Winn-Dixie Stores on Monday afternoon reported net sales of $1.5 billion for the first quarter ended Sept. 22, representing a drop of 2.4%. Identical store sales were down 2.8%.
Identical-store sales were negatively impacted this quarter by competitive activity and other general market factors, the continued mix shift from branded pharmaceutical to generic products (80 basis points), and the previously announced impact of the Gulf oil spill (40 basis points), partially offset by the sales impact from inflation in selected categories, the Southeast grocer stated.
Transaction count and basket size decreased by 2.1% and 0.7%, respectively.
"Our sales were in line with our expectations, as we were able to generate a 220 basis point sequential improvement in identical store sales through strategic adjustments to promotional activity in select categories and new sales initiatives,” stated Peter Lynch, Winn-Dixie chairman, CEO and president. “We are continuing to implement our initiatives to improve sales trends further, while ensuring a strategic and measured approach to our promotional activity."
The company reported a net loss of $76.8 million, or $1.39 per diluted share, compared to a net loss of $8.1 million, or 15 cents per diluted share for the same period last year.