Winn-Dixie Stores' Shares Climb After Hours (WINN)

Winn-Dixie Stores, Inc. WINN late on Monday released financial results that missed Wall Street earnings estimates, while barely beating revenue expectations. Winn-Dixie Stores, Inc reported a fiscal 1st quarter net loss of $76.8 million, or $1.39 per share, compared to a net loss of $8.1 million, or 15 cents per share, a year earlier. Excluding special items, the company reported a net loss from continuing operations of 42 cents per share. Revenue fell to $1.54 billion, down from $1.58 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of an expected loss of 37 cents per share, on revenue of $1.53 billion. Chairman, CEO, and president Peter Lynch said, “Our sales were in line with our expectations, as we were able to generate a 220 basis point sequential improvement in identical store sales through strategic adjustments to promotional activity in select categories and new sales initiatives. We are continuing to implement our initiatives to improve sales trends further, while ensuring a strategic and measured approach to our promotional activity.” Winn-Dixie Stores, Inc. (WINN) ended the Monday trading session at $6.53 per share and were up 5.2% at $6.87 per share during after hours trading. Analysts covering the company's stock have a consensus price target of $8.40 per share. Read more from Benzinga's Company news.