WINN-DIXIE ANNOUNCES PRELIMINARY FOURTH QUARTER AND FISCAL 2011 RESULTS

Winn-Dixie Stores, Inc. announced preliminary financial results for the fiscal year and fourth quarter ended June 29, 2011. These preliminary results remain subject to the year-end audit process.

For the full fiscal year, the Company expects to report net sales of approximately $6.9 billion compared to $7.0 billion for the prior fiscal year (which included an extra week), reflecting a 0.1% decrease in identical store sales. Net loss from continuing operations is expected to be approximately $30 million or $0.54 per diluted share, compared to net income from continuing operations of $37 million or $0.67 per diluted share for fiscal 2010. The Company expects to report full year Adjusted EBITDA of $114 million, compared to $151 million for fiscal 2010.

For the fourth quarter of fiscal 2011, the Company expects net sales of approximately $1.6 billion, as compared to $1.7 billion for the fourth quarter of fiscal 2010 (which included an extra week), reflecting a 3.2% increase in identical store sales. Net income from continuing operations for the fourth quarter of fiscal 2011 is expected to be approximately $5 million compared to net income from continuing operations of $16 million for the fourth quarter of fiscal 2010. Adjusted EBITDA is expected to be approximately $38 million for the fourth quarter, compared to $42 million for the fourth quarter of fiscal 2010.