Winn-Dixie Owner Posts 16% Sales Decline Amid Store Closures
- The company had $1.79 billion in revenue for the third quarter
- Grocery chain culled stores to focus on high-growth areas
A Winn-Dixie Store supermarket in Palm Beach, Florida.
Photographer: Saul Martinez/BloombergThis article is for subscribers only.
Southeastern Grocers’s third quarter earnings took a hit as the owner of the Winn-Dixie, Harveys Supermarket and Fresco y Más chains continued to shutter or offload more stores, according to people with knowledge of the closely held company’s performance.
The company generated $1.79 billion in revenue, a decline of 16% from the same period a year ago and a 2.7% drop from 2019, said the people, who asked not to be identified because the results are private.