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WINN-DIXIE REPORTS RECORD EARNINGS FOR THIRD QUARTER

 WINN-DIXIE REPORTS RECORD EARNINGS FOR THIRD QUARTER
 JACKSONVILLE, Fla., April 15 /PRNewswire/ -- Winn-Dixie


(NYSE: WIN) reports record earnings for the third quarter of fiscal 1992. Net earnings for the 12 weeks ended April 1, 1992 were $53.9 million, or $0.70 per share, compared with $48.0 million, or $0.62 per share, an increase of 12.4 percent in dollars and 12.9 percent in earnings per share. For the 40 weeks ended April 1, 1992, net earnings were $134.4 million or $1.75 per share, as compared with $121.4 million, or $1.56 per share in 1991, an increase of 10.7 percent in dollars and 12.2 percent in earnings per share.
 Sales for the 12 weeks ended April 1, 1992 were $2.4 billion, a $43.4 million increase, or 1.8 percent, over the comparable quarter ended April 3, 1991. For the 40 weeks ended April 1, 1992, sales were $7.9 billion, an increase of $172.0 million, or 2.2 percent over the previous year. Identical store sales increased 1.0 percent for the quarter and 1.3 percent year-to-date. Store average sales increased 3.4 percent for the quarter and 3.7 percent year-to-date.
 James Kufeldt, president stated: "We are pleased with the operating results achieved during these tough economic times as customers continue to respond to our lower retail prices. Our sales for the third quarter were adversely affected approximately 1.0 percent by calendar changes, including Easter falling in the fourth quarter vs. the third quarter last year. We will continue to lower retail prices afforded through buying efficiencies and expense controls."
 During the first 40 weeks of fiscal 1992, the company opened 26 new stores, averaging 39,800 square feet, acquired 4 stores, averaging 44,900 square feet, enlarged or remodeled 44 stores and closed 38 stores, averaging 24,000 square feet. As of April 1, 1992, retail space totaled 38.5 million square feet, a 1.6 percent increase over the prior year. Currently, there are 15 new stores under construction. Winn-Dixie had 1,199 stores in operation on April 1, 1992 compared with 1,217 last year. The Company plans to open 7 new stores and enlarge or remodel 29 stores during the fourth quarter.
 Monthly dividends of 10 cents per share, an 11.1 percent increase over the previous year, effective since July 1991, were declared by the Board of Directors on April 1, 1992 as follows:
 Month Record Date Payment Date
 April 04-15-92 05-01-92
 May 05-15-92 06-01-92
 June 06-15-92 07-01-92
 Winn-Dixie is the Sunbelt's largest food retailer.
 WINN-DIXIE STORES, INC.
 SUMMARY
 Third quarter
 For the 12 Weeks Ended
 April 1, 1992 April 3, 1991
 (Dollars in thousands
 except per share data)
 Amount Pct. Amount Pct.
 Sales 2,433,041 100.00 2,389,637 100.00
 Cost of sales 1,876,836 77.14 1,847,602 77.32
 Gross profit 556,205 22.86 542,035 22.68
 Operating and
 administrative
 expense 493,155 20.27 490,779 20.54
 Operating income 63,050 2.59 51,256 2.14
 Cash discounts
 and other inc 24,698 1.02 25,120 1.06
 Interest expense (6,070) (0.25) (3,710) (0.16)
 Earnings before
 inc taxes 81,678 3.36 72,666 3.04
 Income taxes 27,770 1.14 24,707 1.03
 Net earnings 53,908 2.22 47,959 2.01
 Earnings per share 0.70 0.62
 Dividends per share 0.30 0.27
 Number of stores 1,199 1,217
 FISCAL YEAR-TO-DATE
 Dollars in thousands except per share data
 For the 40 Weeks Ended
 April 1, 1992 April 3, 1991
 Amount Pct. Amount Pct.
 Sales 7,926,210 100.00 7,754,169 100.00
 Cost of sales 6,153,446 77.63 6,035,768 77.84
 Gross profit 1,772,764 22.37 1,718,401 22.16
 Operating and
 administrative
 expense 1,629,730 20.57 1,599,565 20.63
 Operating income 143,034 1.80 118,836 1.53
 Cash discounts
 and other inc 80,708 1.02 80,571 1.04
 Interest expense (20,144) (0.25) (15,408) (0.20)
 Earnings before
 inc taxes 203,598 2.57 183,999 2.37
 Income taxes 69,223 0.87 62,560 0.80
 Net earnings 134,375 1.70 121,439 1.57
 Earnings per share 1.75 1.56
 Dividends per share 0.90 0.81
 Supplemental and Explanatory Information
 Dollars in Thousands except Per Share Data
 The following weighted average number of shares of common stock were used in the calculations of earnings per share.
 1992 1991
Quarter 76,601 77,512
Year-to-date 76,866 77,997
 The following supplemental information is provided to facilitate comparisons with companies using the FIFO method.
 Third Quarter Year-to-Date
 1992 1991 1992 1991
 Inventories $ 1,161,042 1,153,362 1,161,042 1,153,362
 Net Earnings 56,440 53,598 145,462 140,194
 Earnings per Share 0.74 0.69 1.89 1.80
 -0- 4/15/92
 /CONTACT: R. P. McCook, financial vice president of Winn-Dixie Stores, 904-783-5000/
 (WIN) CO: Winn Dixie Stores, Inc. ST: Florida IN: REA SU: ERN


AK-JJ -- FL007 -- 8753 04/15/92 13:27 EDT
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