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.
For the year, Winn-Dixie lost $70.1 million, compared to net income of $28.9 million in the prior year.