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Winn-Dixie Q4 income falls 48%
Jacksonville, Fla. -- Winn-Dixie Stores said Monday that its fourth-quarter net income fell 48% amid tough competition. The chain attributed the drop to the quarter being a week shorter this year than it was last year.
Winn-Dixie's net income for the quarter that ended June 29 was $7.3 million versus $14 million in the year-ago period.
Revenue fell 4% to $1.62 billion from $1.68 billion last year. Same-store sales rose 3.2%. Although average amount customers spent per visit rose 3.9%, 0.7% fewer shoppers came in, the company said.
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Ditching candy won't likely thin out Sports Authority sales
ENGLEWOOD, Colo. — Citing a growing obesity epidemic in the United States, Sports Authority announced that it will no longer sell candy at its 465 stores.
Though it may lose some of the impulse sales generated by offering tempting items near checkout, Sports Authority is hardly a destination for junk food lovers, and that space might be better suited for products geared more toward the retailer's customer base.