Winn-Dixie sees drop in net income

JACKSONVILLE, Fla. Winn-Dixie Stores reported first quarter net income of $15 million and diluted EPS of 28 cents, a decrease of $2.8 million, or 5 cents per diluted share compared to the third quarter of fiscal 2007.

The decrease in net income for the quarter was due primarily to higher reported income tax expense and lower interest income, the company reported.

Net sales in the third quarter were $1.7 billion, an increase of $39 million, or 2.3%, compared to the third quarter of fiscal 2007. Identical-store sales from continuing operations increased 2.2%, compared to the third quarter of fiscal 2007.