Winn-Dixie: Albertson's sale won't hurt results

By Associated Press
June 12, 2008
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Grocery-store operator Winn-Dixie Stores Inc. said Thursday it does not expect Publix Super Market's acquisition of some Albertson stores in Florida will hurt its performance.

Winn-Dixie shares are down about 9 percent since the close of the market on Friday. Privately-held Publix agreed Monday to buy 49 Albertson's in Florida.

"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," Winn-Dixie Chief Executive Peter Lynch said in a statement. "As a result, we do not believe this transaction will have a material impact on our long-term strategy or performance."
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