Winn-Dixie Says PublixAlbertsons Store Deal Won't Hurt
Winn-Dixie Stores, Inc. issued a statement yesterday assuring investors and others that it isn't too concerned about the news that Publix Super Markets will be adding 49 stores to its portfolio in Florida.
Winn-Dixie chairman, c.e.o., and president Peter Lynch said, "Based on our analysis, only 10 of the 49 stores are within a two-mile operating radius of a Winn-Dixie location that does not currently compete with an existing Publix. As a result, we do not believe this transaction will have a material impact on our long-term strategy or performance."
Lynch added that Winn-Dixie's remodeled stores continue to generate positive results. "As we move forward, we will monitor business conditions and fine-tune product assortment, pricing, and merchandizing efforts in each store to meet the needs of the communities we serve," he said.
Shares of Winn-Dixie Stores Inc. fell Tuesday, one day after Lakeland, Fla.-based Publix said it has agreed to buy 49 Florida stores from Boise, Idaho-based Albertson's, LLC. The transaction, expected to close in September, encompasses 15 locations in north Florida, 30 in central Florida, and four in south Florida.
Publix currently operates 936 stores in Florida, Georgia, South Carolina, Alabama, and Tennessee.
Winn-Dixie chairman, c.e.o., and president Peter Lynch said, "Based on our analysis, only 10 of the 49 stores are within a two-mile operating radius of a Winn-Dixie location that does not currently compete with an existing Publix. As a result, we do not believe this transaction will have a material impact on our long-term strategy or performance."
Lynch added that Winn-Dixie's remodeled stores continue to generate positive results. "As we move forward, we will monitor business conditions and fine-tune product assortment, pricing, and merchandizing efforts in each store to meet the needs of the communities we serve," he said.
Shares of Winn-Dixie Stores Inc. fell Tuesday, one day after Lakeland, Fla.-based Publix said it has agreed to buy 49 Florida stores from Boise, Idaho-based Albertson's, LLC. The transaction, expected to close in September, encompasses 15 locations in north Florida, 30 in central Florida, and four in south Florida.
Publix currently operates 936 stores in Florida, Georgia, South Carolina, Alabama, and Tennessee.