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Winn-Dixie expects to cut FY loss

JACKSONVILLE, Fla. — Winn-Dixie Stores announced that it expects to report net sales of approximately $6.9 billion compared with $7 billion for the prior fiscal year (which included an extra week), reflecting a 0.1% decrease in identical-store sales. Net loss from continuing operations is expected to be approximately $30 million or 54 cents per diluted share, compared with net income from continuing operations of $37 million or 67 cents per diluted share for fiscal 2010. 

For the fourth quarter of fiscal 2011, the company expects net sales of approximately $1.6 billion, as compared with $1.7 billion for the fourth quarter of fiscal 2010 (which included an extra week), reflecting a 3.2% increase in identical-store sales. Net income from continuing operations for the fourth quarter of fiscal 2011 is expected to be approximately $5 million or 10 cents per diluted share, compared with net income from continuing operations of $16 million or 29 cents per diluted share for the fourth quarter of fiscal 2010. 

Peter Lynch, chairman, CEO and president, said, “We are very pleased with our results for fiscal 2011, which fell within our previously announced guidance despite a continued inflationary environment and a waning economic recovery. This year we strategically managed our promotional activity and merchandising efforts and aligned those programs with our retail initiatives to better meet the needs of our guests and strengthen our brand over the long term.”