Jacksonville, Fla. Winn-Dixie Stores Inc. said Thursday it does not expect Publix Super Market's acquisition of some Albertson stores in Florida will hurt its performance, according to the Associated Press.
Winn-Dixie shares are down about 9% since the close of the market on Friday.
Privately held Publix agreed Monday to buy 49 Albertson's in Florida.
"Based on our analysis, only 10 of the 49 stores are within a two-mile operating radius of a Winn-Dixie location that does not currently compete with an existing Publix," Winn-Dixie CEO Peter Lynch said in a statement. "As a result, we do not believe this transaction will have a material impact on our long-term strategy or performance."