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WINN-DIXIE REPORTS RECORD EARNINGS FOR THE SECOND QUARTER OF FISCAL 1992

 WINN-DIXIE REPORTS RECORD EARNINGS FOR THE
 SECOND QUARTER OF FISCAL 1992
 JACKSONVILLE, Fla., Jan. 22 /PRNewswire/ -- Winn-Dixie (NYSE: WIN) reports record earnings for the second quarter of fiscal 1992. Net earnings were $53.8 million, or $0.70 per share for the 16 week quarter compared to $49.1 million, or $0.63 per share, an increase of 9.6 percent in dollars and 11.1 percent in earnings per share. For the 28 weeks ended Jan. 8, 1992, net earnings were $80.5 million, or $1.05 per share compared to $73.5 million, or $0.94 per share, an increase of 9.5 percent in dollars and 11.7 percent in earnings per share.
 Sales for the quarter ended Jan. 8, 1992 increased 2.6 percent to $3.2 billion, a $79.4 million increase over the comparable quarter ended January 9, 1991. For the 28 weeks ended Jan. 8, 1992, sales were $5.5 billion, a $128.6 million increase, or 2.4 percent, over the prior year. The increase in identical store sales for the second quarter was 1.8 percent compared to 1.1 percent for the first quarter, bringing the year-to-date increase in identical store sales to 1.5 percent.
 James Kufeldt, president stated: "We are encouraged by the improving trend of our identical store sales during these tough economic times and by our 4.1 percent increase in average store sales during the quarter. Our focus for the remainder of fiscal 1992 is refining our 'Low-Price-Leader' program and improving service to our customers."
 For the 28 week period, Winn-Dixie opened 21 stores and acquired three stores, averaging 40,100 square feet, closed 28 older stores averaging 24,000 square feet and remodeled or enlarged 23 locations. As of Jan. 8, 1992, there are 1,203 stores in operation, compared with 1,221 last year. Of the 1,203 stores, 446 are larger than 35,000 square feet. Fifteen new stores are presently under construction.
 Winn-Dixie is the Sunbelt's largest food retailer.
 WINN-DIXIE STORES, INC.
 SUMMARY
 2nd Quarter
 For the 16 Weeks Ended
 Jan. 8, 1992 Jan. 9, 1991
 (Dollars in thousands
 except per share data)
 Amount Pct. Amount Pct.
 Sales $ 3,159,289 100.00 3,079,870 100.00
 Cost of sales 2,458,405 77.82 2,393,775 77.72
 Gross profit 700,884 22.18 686,095 22.28
 Operating & administrative
 expenses 644,869 20.41 637,226 20.69
 Operating income 56,015 1.77 48,869 1.59
 Cash discounts
 & other income 34,280 1.09 32,271 1.04
 Interest expense (8,760) (0.28) (6,766) (0.22)
 Earnings before
 income taxes 81,535 2.58 74,374 2.41
 Income taxes 27,722 .88 25,287 0.82
 Net earnings $ 53,813 1.70 49,087 1.59
 Earnings per share $ 0.70 0.63
 Dividends per share $ 0.40 0.36
 Number of stores 1,203 1,221
 Fiscal Year to Date
 For the 28 Weeks Ended
 Jan. 8, 1992 Jan. 9, 1991
 Amount Pct. Amount Pct.
 Sales $ 5,493,169 100.00 5,364,532 100.00
 Cost of sales 4,276,610 77.85 4,188,166 78.07
 Gross profit 1,216,559 22.15 1,176,366 21.93
 Operating & administrative
 expenses 1,136,575 20.69 1,108,786 20.67
 Operating income 79,984 1.46 67,580 1.26
 Cash discounts
 & other income 56,010 1.02 55,451 1.04
 Interest expense (14,074) (0.26) (11,698) (0.22)
 Earnings before
 income taxes 121,920 2.22 111,333 2.08
 Income taxes 41,453 .76 37,853 0.71
 Net earnings $ 80,467 1.46 73,480 1.37
 Earnings per share $ 1.05 0.94
 Dividends per share $ 0.60 0.54
 Supplemental and Explanatory Information
 The following weighted average number of shares of common stock were used in the calculations for earnings per share.
 1992 1991
 (In thousands)
 Quarter 76,881 77,871
 Year-to-Date 76,980 78,205
 The following supplemental information is provided to facilitate comparisons with companies using the FIFO method.
 2nd Quarter Year-to-Date
 (Dollars in thousands
 except per share data)
 FIFO Basis 1992 1991 1992 1991
 Inventories $ 1,160,405 1,138,339 1,160,405 1,138,339
 Net earnings 58,629 56,627 89,021 86,596
 Earnings per
 share 0.76 0.73 1.16 1.11
 -0- 1/22/92
 /CONTACT: R. P. McCook, vice president of Winn-Dixie Stores, 904-783-5000/
 (WIN) CO: Winn-Dixie Store, Inc. ST: Florida IN: REA SU: ERN


AW-SS -- FL007 -- 2288 01/22/92 12:09 EST
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