US regional retailer Winn-Dixie Stores has posted rising quarterly profits thanks in part to efficiency gains, despite flat like-for-like sales.
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The company, which operates in five states in the south-east of the US, recorded a 5% rise in gross profits to US$446.4m for the three months to 19 September.
Winn-Dixie said the increase in earnings came from a “planned reduction” in promotional spending and reduced distribution costs. Identical store sales inched up 0.2% to $1.6bn.
Chairman, CEO and president Peter Lynch said: “Our turnaround plan will take time to implement fully, and we know we still have a great deal to accomplish, but we believe we have the right strategy in place and are building a solid foundation for long-term growth.”
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