Winn-Dixie Stores Inc. reported a significant year-over-year improvement in financial results for the second quarter of fiscal 2008, the 16-week period that ended Jan. 9, 2008. The company reported net income of $4.1 million.
Peter Lynch, Winn-Dixie chairman, chief executive officer, and president, said, "Winn-Dixie had a truly outstanding quarter. We improved our profitability by effectively managing our promotional spending, while simultaneously growing our identical store sales. We are executing according to plan and, given our better than expected second quarter results, we are raising our financial guidance for the fiscal year. We now have reported four full consecutive quarters of post-Chapter 11 results."
Net sales in the second quarter were $2.2 billion, an increase of $15.9 million, or 0.7%, versus the second quarter of fiscal 2007. The company reported net income of $4.1 million for the second quarter of fiscal 2008, in contrast to net income of $286.8 million in the same period of fiscal 2007.
For the 28 weeks ended Jan. 9, 2008, net sales were $3.9 billion, a gain of $27.0 million, or 0.7%, compared with the same period in the prior fiscal year. Net income for the 28 weeks was $3.3 million.
