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WINN-DIXIE REPORTS EARNINGS UP 25.2 PERCENT FOR THE FIRST QUARTER OF FISCAL 1993

 WINN-DIXIE REPORTS EARNINGS UP 25.2 PERCENT
 FOR THE FIRST QUARTER OF FISCAL 1993
 JACKSONVILLE, Fla., Oct. 7 /PRNewswire/ -- Winn-Dixie Stores, Inc. (NYSE: WIN) the Sunbelt's largest supermarket retailer, at its Annual Shareholders' Meeting today announced net earnings from operations of $33.4 million, or $0.44 per share for the first quarter of fiscal 1993 compared to $26.7 million, or $0.35 per share, a 25.2 percent increase over the previous year.
 Sales for the first quarter totaled $2.4 billion, up $58.2 million, or 2.5 percent over the previous year. For the first quarter, average store sales increased 4.4 percent and identical store sales increased 2.7 percent.
 James Kufeldt, president, stated: "We are pleased with the results our associates have achieved in implementing our strategic plan to be the low price leader in each of our marketing areas. The thrust for the remainder of this fiscal year will be to lower our operating and administrative expenses so as to
continue further reductions in our retail prices. Our announcement on Sept. 14, 1992, that we lowered retail prices on over 1,000 health and beauty care products in all 1,180 retail locations, substantiates our commitment."
 Winn-Dixie opened or acquired 5 new stores, averaging 49,100 square feet, closed 14 older stores averaging 25,500 square feet and remodeled or enlarged 12 store locations, having 1,180 locations in operation on Sept. 16, 1992, compared to 1,204 last year. There are 36 new stores under construction and 44 enlargements or remodels under construction. The 1,180 locations in operation include eight stores that remained temporarily closed due to damage caused by Hurricane Andrew on Aug. 24, 1992.
 WINN-DIXIE STORES, INC.
 FIRST QUARTER
 Dollars in thousands except per share data
 For the 12 Weeks Ended
 Sept.16, Sept. 18,
 1992 1991
 Amount Pct. Amount Pct.
 Sales $ 2,392,129 100.00 2,333,880 100.00
 Cost of sales 1,860,623 77.78 1,818,205 77.90
 Gross profit 531,506 22.22 515,675 22.10
 Operating &
 administrative expenses 501,246 20.95 491,706 21.07
 Operating income 30,260 1.27 23,969 1.03
 Cash discounts &
 other income 27,511 1.15 21,730 0.93
 Interest expense (6,422) (0.27) (5,314) (0.23)
 Earnings before income taxes
 and cumulative effect of change
 in accounting principle 51,349 2.15 40,385 1.73
 Income taxes (17,972) (0.75) (13,731) (0.59)
 Earnings before cumulative
 effect of change in
 accounting principle 33,377 1.40 26,654 1.14
 Cumulative effect of change
 in accounting principle for
 income taxes
 per FASB No.109 -- -- (20,485) (0.88)
 Net earnings $ 33,377 1.40 6,169 0.26
 Earnings per share:
 Earnings before cumulative
 effect of change in
 accounting principle $ 0.44 0.35
 Cumulative effect of
 change in accounting
 principle for income
 taxes per FASB No. 109 -- (0.27)
 Net earnings $ 0.44 0.08
 Dividends per share $ 0.22 0.20
 Number of stores 1,180 1,204
 Supplemental and Explanatory Information
 The number of shares used in the calculation of earnings per share in 1992 and 1991 were 76,710,976 and 77,112,932, respectively, which is the weighted average number of shares in common stock outstanding during each year.
 The following supplemental information is provided to facilitate comparisons with companies using the FIFO method for inventory valuation. At Sept. 16, 1992, inventories valued by the FIFO method would have been $209,399,000 higher ($206,699,000 at June 24, 1992) if they were stated at the lower of FIFO cost or market. If the FIFO method of inventory valuation had been used for the 12 weeks ended Sept. 16, 1992, reported net earnings would have been $1,711,000, or $0.02 per share, higher ($3,738,000, or $0.05 per share, higher for the 12 weeks ended Sept.18, 1991).
 -0- 10/7/92
 /CONTACT: R. P. McCook, financial vice president of Winn-Dixie Stores, Inc., 904-783-5221/
 (WIN) CO: Winn-Dixie Stores, Inc. ST: Florida IN: REA SU: ERN


SS-JB -- FL001 -- 7399 10/07/92 10:45 EDT
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Date:Oct 7, 1992
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