X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

JACKSONVILLE, FL-Winn-Dixie Stores Inc., Florida’s largest grocer and the sixth largest supermarket chain in the United States, has recovered from dismal 2000 performances and posted gross first-quarter 2002 profit of $39.4 million.

As a percentage of sales, that number was 26.6% above the comparable 2001 period. The store’s first fiscal quarter ended Sept. 19.

Net earnings amounted to $22.4 million or 16 cents per diluted shares versus $9.4 milion or seven cents per diluted share last year at this time.

Earnings before income taxes were $36.4 million compared to $15.3 million in the previous year.

The 70-year-old food-servicing company increased its total leased space among 1,153 stores by 6.1% to 51.1 million sf, or an average 44,319 sf per store.

Rent expense on operating leases was $82.2 million versus $71.3 million last year. Winn-Dixie president/CEO Al Rowland attributes the increased rent to the acquisition of nine Gooding’s Supermarkets in Orlando and 68 Jitney Jungle stores in the second and third quarters of fiscal 2001.

Winn-Dixie operates 30 stores in Orange County; 11 in Seminole County; nine in Lake County; and six in Seminole County.

First-quarter sales were $3 billion, a 4% increase from $13.2 million in first quarter 2001. Identical store sales, however, decreased 5.4% for the quarter.

In a prepared statement, Rowland credits the company’s fiscal turnaround to Winn-Dixie’s year-long restructuring and retrofitting of existing profitable stores and the elimination of non-profitable properties throughout the state. He anticipates the company’s new “Real Deal” marketing campaign, unveiled Oct. 3, will generate further customer count increases, brand awareness and market share.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.