Winn-Dixie Stores (WINN) Provides Fiscal 2011 Guidance
WINN Hot Sheet
Financial Fact:Net loss from continuing operations: -43M
Today's EPS Names:
TARO, BRLI, TLB, More
Winn-Dixie Stores, Inc. (NASDAQ: WINN) provides Fiscal 2011 guidance:
The Company expects Adjusted EBITDA for fiscal 2011, a 52-week period ending on June 29, 2011, to be in the range of $100 million to $130 million. Among other factors, the Company’s Adjusted EBITDA guidance range is based on its current expectation that identical store sales for fiscal 2011 will be slightly negative to slightly positive, and that gross margin will be approximately 28.2%.
Based on sales results in the first eight weeks of fiscal 2011, the Company does not expect to generate Adjusted EBITDA in the first quarter of fiscal 2011, which ends on September 22, 2010. The Company expects Adjusted EBITDA to improve during the remainder of the fiscal year based on sequential improvements in identical store sales as a result of adjusting its promotional practices and implementing additional sales initiatives. In addition, Adjusted EBITDA is expected to benefit from $12 to $17 million of annualized savings related to the Company’s previously announced 30 non-remodeled store closures and headcount reductions, which should begin to be realized in the second quarter. In addition, the Company expects to receive proceeds of approximately $10 million from asset sales including pharmacy prescription files.
Capital expenditures in fiscal 2011 are expected to be approximately $158 million, of which approximately $80 million is for the Company’s store remodeling program. The additional $78 million is for retail store improvements and maintenance, IT systems, new stores, warehousing and transportation.
[SM]
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
The Company expects Adjusted EBITDA for fiscal 2011, a 52-week period ending on June 29, 2011, to be in the range of $100 million to $130 million. Among other factors, the Company’s Adjusted EBITDA guidance range is based on its current expectation that identical store sales for fiscal 2011 will be slightly negative to slightly positive, and that gross margin will be approximately 28.2%.
Based on sales results in the first eight weeks of fiscal 2011, the Company does not expect to generate Adjusted EBITDA in the first quarter of fiscal 2011, which ends on September 22, 2010. The Company expects Adjusted EBITDA to improve during the remainder of the fiscal year based on sequential improvements in identical store sales as a result of adjusting its promotional practices and implementing additional sales initiatives. In addition, Adjusted EBITDA is expected to benefit from $12 to $17 million of annualized savings related to the Company’s previously announced 30 non-remodeled store closures and headcount reductions, which should begin to be realized in the second quarter. In addition, the Company expects to receive proceeds of approximately $10 million from asset sales including pharmacy prescription files.
Capital expenditures in fiscal 2011 are expected to be approximately $158 million, of which approximately $80 million is for the Company’s store remodeling program. The additional $78 million is for retail store improvements and maintenance, IT systems, new stores, warehousing and transportation.
[SM]
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
You May Also Be Interested In
- UPDATE: Bristow Group (BRS) Reports Better-Than-Expected Q4 Results; Offers FY13 Outlook
- NetApp (NTAP) Slammed On Weak Outlook
- Signet Jewelers (SIG) Tops Q1 EPS by 5c; Guides Q2 Below the Street
Create E-mail Alert Related Categories
GuidanceSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
