Winn-Dixie to Sell Distribution Center
Miami, Winn-Dixie Stores Inc. said it plans to sell its Pompano Beach, Fla., warehouse as it struggles to emerge from bankruptcy protection this summer. The move is a result of Winn-Dixie’s reported net loss of $7.58 million in the four-week period ending March 8. Winn-Dixie said the warehouse sale was part of an ongoing focus “to position the company for profitability” and to operate more efficiently. A transfer of operations from the Pompano Beach warehouse to a Miami distribution center will begin in late April and be completed by the end of June. The 280 full-time and part-time workers will be offered positions at the Miami warehouse.
Dollar Tree Acquires Deal$ Stores
Chesapeake, Va., Dollar Tree Stores, Inc. completed its acquisition of 138 stores and related assets of the SuperValu-owned discount store Deal$-Nothing Over a Dollar. Dollar Tree acquired 138 Deal$ stores for approximately $30.5 million. Dollar Tree also purchased approximately $22.2 million of inventory, subject to verification, from Deal$. All Deal$ stores will continue to operate under the Deal$ banner.
Federated Seeks Increase in Common Shares
Cincinnati, The board of directors of Federated Department Stores, Inc. said it plans to split the company’s common stock on a two-for-one basis if shareholders approve an increase in the number of authorized shares of company common stock. The stock split would occur through a dividend entitling each shareholder of record to receive one additional share of common stock for every one share owned. The company will seek shareholder approval for an increase in the number of authorized shares of Federated common stock.