Winn-Dixie Reports $164 Million Net Operating Loss in August
JACKSONVILLE, Fla. -- Winn-Dixie Stores, Inc. reported a hefty $164.4 million net operating loss for the month of August, due primarily to a $142.7 net loss from discontinued operations, in its unaudited monthly operating statement filed late Monday with the U.S. Middle District of Florida's bankruptcy court.
The regional retailer has sold or closed more than 300 stores this year in its quest to create a smaller, more profitable store base. However, one market it didn't exit -- New Orleans -- suffered unforeseen damage from Hurricane Katrina late last month.
Winn-Dixie reported $550.8 million in total sales for August, which was a significant decline compared with the $732 million in sales it posted for July. Gross profit on sales was $139.8 million.
The retailer repaid $240 million on its debtor-in-possession (DIP) financing during August, while borrowing $96 million. Its outstanding trade credit was relatively stable, remaining at $90 million.
The regional retailer has sold or closed more than 300 stores this year in its quest to create a smaller, more profitable store base. However, one market it didn't exit -- New Orleans -- suffered unforeseen damage from Hurricane Katrina late last month.
Winn-Dixie reported $550.8 million in total sales for August, which was a significant decline compared with the $732 million in sales it posted for July. Gross profit on sales was $139.8 million.
The retailer repaid $240 million on its debtor-in-possession (DIP) financing during August, while borrowing $96 million. Its outstanding trade credit was relatively stable, remaining at $90 million.