Winn-Dixie
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Winn-Dixie is a supermarket chain based in Jacksonville, Florida. After a 2005 restructuring, it will have 587 stores throughout Florida, in four other Deep South states, and in the Bahamas; the restructuring left the chain with fewer stores than it had in the late 1960s. The company has existed under its present name since 1955 and can date its roots back to 1913.
Prior to filing for Chapter 11 bankruptcy, Winn-Dixie was listed in the S&P 500 and had been traded on the New York Stock Exchange under the ticker symbol "WIN" since 1952. The company is currently traded under the symbol "WNDXQ" on the Pink Sheets Electronic Quotation Service.
They are known for their private label Chek brand soft drinks, which are produced in over 20 different flavors plus diet and caffeine-free varieties — one of the widest assortments anywhere. They are known as "The Beef People", though this slogan has seen decreased usage recently.
In 2002, Winn-Dixie introduced the Reward Card System, a loyalty card system which customers use for store discounts and frequent shopper bonuses.
Financial difficulties
In 2003 the company's stock was the worst-performing of the S&P 500, a year which saw the chain with over 1000 stores.
In April 2004 Winn-Dixie announced the closure of 156 stores, including all 111 stores located in the Midwest. The company had been hit hard by competition, especially from Publix and Wal-Mart. Another forty stores in the Atlanta area were converted to their Save Rite Grocery Warehouse brand, as an alternative to store closure.
On February 22, 2005, Winn-Dixie filed for bankruptcy. On June 21, it announced the sale or closure of 326 stores, resulting in the loss of over 22,000 jobs. Once the restructuring is complete, Winn-Dixie will operate in the Bahamas, throughout Florida, and in four of the Deep South states, including the southeastern half of Louisiana, the southeast corner of Mississippi, most of Alabama, and the southwest corner of Georgia.
Pop culture trivia
- The early 2005 movie Because of Winn-Dixie is about a dog found at a Winn-Dixie store.
External links
- Official website (http://www.winndixie.com/)
- Winn-Dixie cutting 22,000 jobs (http://money.cnn.com/2005/06/21/news/fortune500/winn_dixie/), a June 2005 article from CNN/Money