UPDATE 1-Winn-Dixie Q1 rev beats Street, gives upbeat outlook

* Q1 adj shr loss $0.37 in line with est

* Revenue $1.54 bln vs est $1.53 bln

* Expects positive adj EBITDA in Q2

* Shares rise 6 pct after the bell

Nov 1 (BestGrowthStock) – Winn-Dixie Stores Inc (WINN.O: ) posted
first-quarter revenue that beat market estimates and the
supermarket chain gave an upbeat outlook for the rest of the
year as it expects to benefit from cost-cutting measures.

The Jacksonville, Florida-based retailer, which has been
closing stores and cutting jobs, said it expects adjusted
EBITDA to turn positive in the second quarter.

“As we move through the year, we expect profitability to
improve based on continued sequential improvements in identical
store sales, savings related to our headcount reductions, and
exercising discipline with respect to our operating and
administrative expenses,” the company said.

For quarter ended Sept. 22, Winn-Dixie posted a net loss of
$76.8 million, or $1.39 a share, compared with a net loss of
$8.1 million, or 15 cents a share, year ago.

Excluding items, the company’s loss was 37 cents a share.

Revenue fell 3 percent to $1.54 billion.

Analysts on average were expecting a loss of 37 cents a
share, before special items, on revenue of $1.53 billion,
according to Thomson Reuters I/B/E/S.

The company’s shares, which have lost more than a third of
their value this year, were up 6 percent at $6.94 after the
bell. They closed at $6.53 on Monday on Nasdaq.
(Reporting by Mihir Dalal in Bangalore; Editing by Anne
Pallivathuckal)

UPDATE 1-Winn-Dixie Q1 rev beats Street, gives upbeat outlook