Winn-Dixie Stores Reports First Quarter Fiscal 2011 Results: Loss Per Share of $0.66

Winn-Dixie Stores, Inc. (NASDAQ: WINN), today reported its financial results for the first quarter of fiscal 2011, a 12-week period that ended on September 22, 2010. Net sales in the first quarter were $1.5 billion, a decrease of $36.6 million, compared to the same period in the prior fiscal year. The decline in net sales was due to a 2.8% decrease in identical store sales, partially offset by sales from two new stores that opened in fiscal 2010. 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. Transaction count and basket size decreased by 2.1% and 0.7%, respectively. For continuing operations, the company reported a net loss of $36.6 million, or $0.66 per diluted share, compared to a net loss from continuing operations of $5.6 million, or $0.10 per diluted share, for the same period last year.