1. SETUP CONTENT
Winn-Dixie
Stores, Inc.
1998
Annual Report
Earnings per diluted share $1.33
Taxes per diluted share $2.03
See page one

2. SETUP CONTENT
BUSINESS DESCRIPTION
Winn-Dixie is one of the nation’s largest
retail food chains, with more than 139,000
associates, dedicated to providing our
customers with the best quality, variety
and service at competitive prices. As of
June 24, 1998, the Company operated
1,168 supermarkets in 14 states and in the
Bahama Islands. The Company also oper-
ated a network of distribution facilities,
processing and manufacturing plants and a
fleet of trucks, providing a comprehensive
support system.
ABOUT THE COVER
Depicted on our cover is a sample of some
of the delicious food that today’s busy
shoppers can find at their local Winn-Dixie
Marketplace. We offer customers what-
ever suits their plans — from carry-out
dinners ready to serve or simply put in the
oven or microwave, to the fresh foods and
extra ingredients that go into preparing a
delicious, home-cooked meal.
TABLE OF CONTENTS CLICK ON TOPICS…
Highlights ............................................... 1
Message to Our Shareholders............... 2
Isn’t Life Delicious ................................ 5
Financial Review.................................... 8
Winn-Dixie at a Glance ........................ 11
Management........................................... 12
Shareholder Information....................... 13
ZOOM OUT

3. HIGHLIGHTS SETUP CONTENT
Percentage
For the Fiscal Year June 24, 1998 June 25, 1997 Change June 26, 1996 June 28, 1995 June 29, 1994
Dollars in thousands except per share data
SALES $ 13,617,485 13,218,715 + 3.0 12,955,488 11,787,843 11,082,169
Per diluted share $ 91 88 + 3.4 85 79 74
GROSS PROFIT $ 3,623,917 3,315,853 + 9.3 3,093,244 2,723,307 2,534,488
Percent of sales 26.6 25.1 23.9 23.1 22.9
OPERATING AND ADMINISTRATIVE
EXPENSES $ 3,374,905 3,093,767 + 9.1 2,802,712 2,461,883 2,269,803
Percent of sales 24.8 23.4 21.6 20.9 20.5
TAXES
Federal, state and local $ 302,274 284,737 + 6.2 287,758 260,885 261,319
Per diluted share $ 2.03 1.90 1.89 1.74 1.75
NET EARNINGS $ 198,620 204,443 - 2.8 255,634 232,187 216,117
Per diluted share $ 1.33 1.36 - 2.2 1.68 1.55 1.45
Percent of sales 1.5 1.5 2.0 2.0 2.0
EBITDA $ 676,735 632,757 + 7.0 656,857 569,256 520,162
EBITDAR $ 1,089,181 1,015,587 + 7.2 1,009,703 890,720 809,235
DIVIDENDS PAID ON COMMON STOCK $ 150,923 144,165 + 4.7 134,042 116,506 107,384
Per share (present annual rate $1.02) $ 1.02 .96 + 6.3 .885 .78 .72
NET CAPITAL EXPENDITURES $ 369,636 423,105 - 12.6 361,961 371,563 277,657
DEPRECIATION AND AMORTIZATION $ 330,408 291,236 + 13.5 248,287 200,931 157,392
At Year End
Working capital $ 228,581 195,358 + 17.0 388,712 414,923 486,242
Current ratio 1.2 to 1 1.1 to 1 1.4 to 1 1.4 to 1 1.6 to 1
Shareholders’ equity $ 1,368,883 1,337,494 + 2.3 1,342,296 1,230,592 1,055,685
Percent of equity to total capitalization 96.6 96.1 95.7 94.1 92.5
Total shares outstanding (000’s) 148,531 148,876 - 0.2 151,685 151,122 148,352
Stores in operation 1,168 1,174 - 0.5 1,178 1,175 1,159
Return on average equity (%) 14.7 15.3 19.9 20.3 21.2
LARGER STORES SERVE TODAY’S CUSTOMERS
• At June 24, 1998, • 82 percent of our
we operated 1,168 stores now have at
1,178
1,200 1,175 1,174
stores, of which 215 least 35,000 square
1,168
1,159
were less than feet, compared with
1,000
35,000 square feet, 53 percent in 1994.
479 were 35,000 to 800
• Our average square
45,000 square feet
footage per store
600
and 474 were more
increased to 42,400
than 45,000 square
this year, compared to
400
feet.
35,100 in 1994.
200
1994 1995 1996 1997 1998
Stores 35,000 to Stores more than
Stores less than
1
45,000 square feet 45,000 square feet
35,000 square feet

4. SETUP CONTENT
L ast year, our annual one of the indicators we will continue to watch in the
months ahead as more shoppers visit our Winn-Dixie
message to you began Marketplace stores.
with these words: “1997 was a year of In business, as in life, success comes to those
positioning Winn-Dixie for the future. As we approach who prepare. That is the strategy we are pursuing. It is
the millennium, we are better prepared than ever for why, for example, we are concentrating on associate
the years ahead.” training to ensure that Exceptional Customer Service
When I signed those words along with James will truly be a
Kufeldt and Charles McKellar, we had our eyes on an way of life in our
important milestone. In the year 2000, our Company stores. Winn-Dixie
will celebrate its 75th year in business. We remain today is without
excited about the Winn-Dixie we are building for the question in a
next century. better position for
the future than we
would have been
MESSAGE TO without the
OUR SHAREHOLDERS capital investment
and operating
improvements we
Am I satisfied with our earnings for the year
have made.
just completed? Of course not. We had hoped for
We also
better results sooner, but we are absolutely confident
want to express
of our strategy. It would be a mistake for us not to
our gratitude to T.E. (Tommy) McDonald, Senior Vice
complete the investment and operating improvements
President and Regional Director of our Charlotte and
we have been making to create the Winn-Dixie of the
Raleigh Divisions, who retired in December after 43
21st century.
years of service. Upon his retirement, we realigned
Giving customers the finest one-stop shopping
regional responsibilities (see page 12). We also want to
experience in the supermarket industry has required us
extend our appreciation to Bob B. Tripp, President of
to defer temporarily what could have been larger short-
our Charlotte Division, who retired in March after
term sales and earnings increases. Our philosophy is
more than 43 years of service.
to accomplish our objectives without long-term debt.
We thank all of you for your support. And we
This places all of us in a stronger financial position —
invite you to come see us and enjoy the Winn-Dixie
shareholders, associates and customers.
Marketplace experience!
We accomplished a lot in 1998. Our average
store size increased to 42,400 square feet. More than
84% of our business was being done in our larger
locations by year’s end. We added more new customer A. Dano Davis, Chairman,
Principal Executive Officer
services than ever before in our history. Our sales were
a record $13.6 billion. And our net earnings were
$198.6 million.
As we finished the year, our identical store sales
for the fourth quarter were up 3.1 percent compared
with the fourth quarter of the previous year. That is
2

5. SETUP CONTENT
I n 1998, more than two can continue to operate our new Winn-Dixie
Marketplace stores in a way that enables our customers
million customers visited to have the best possible shopping experience when
our stores every day, seeing firsthand the they visit us.
continuing improvements we are making to stay at the At our corporate headquarters in Jacksonville,
forefront of the supermarket industry. Even as total Florida, we are taking additional steps to consolidate
industry retail space in the United States grew during our office facilities into one building with the latest
the year, we maintained our strong leadership position information and communications systems. We also
among the major chains. moved to address Year 2000 computer issues well in
As one sign of our com- advance, instead of waiting for the eve of the
mitment to one-stop shopping millennium.
convenience, we opened our All of these milestones reflect our commitment
639th pharmacy, making us the to making sure that Winn-Dixie remains a premier
fastest-growing retail drug store supermarket of choice in the face of competition and
operator in the country. We changes in consumer preferences. In 1999, as part of
opened 84 new Winn-Dixie that commitment, we plan to open 85 new stores and
Marketplace stores during the enlarge or remodel 90 existing stores.
year, enlarged or remodeled We want to thank our associates for their
another 136 stores and closed 90 community involvement. Winn-Dixie in 1998 gave
smaller stores. Our facilities today are truly the most $12.8 million to support customer and associate efforts
up-to-date in the business. to improve their communities. This total included
By the end of the year, we had 1,168 stores with matching grants which doubled our associates’ own
retail space of more than 49.6 million square feet, an donations of more than $2.0 million to civic and
increase of 3.7 percent over 1997. We are excited about charitable organizations of their choice.
the quality of our new Winn-Dixie Marketplace stores, With the dedication this year of the new
including the variety of products and services they offer Winn-Dixie Hope Lodge in Atlanta, Georgia, we now
to today’s busy shoppers. Indeed, in 1998, we added a have three Hope Lodges (including Miami and
record total of 676 departments. To increase public Gainesville, Florida) giving cancer outpatients and a
awareness of this fact and to invite even more family member a home-like place to stay at no charge
customers to shop with us, we have been promoting during treatment.
the theme “While You’re At The Marketplace” in our We remain confident in our business approach,
communications to emphasize how much we offer grateful for the customers we have the privilege of
under one roof. serving and are more enthusiastic than ever about the
To help make sure we achieve our objectives, days ahead.
we have made a significant investment in technology
and training. Shoppers at many Winn-Dixie
Marketplace locations were given the option of self-
checkout, just one of the technological advances we James Kufeldt
President
are making to continue offering a fast and pleasant
shopping experience. And we are providing our
associates with advanced training to ensure that they
3

6. SETUP CONTENT
W e took many mean that more customer needs can be met
conveniently in one place during one visit. At
significant practical most of our locations, there are customer service
managers at the front of the store whose job is to
steps in 1998 to enhance our
make sure that our customers can check out
operations and to give those who shop with us a
with fast, friendly service.
lot of positive reasons to keep coming back.
We are proud of our 139,000 associates
We moved ahead with a major
who keep our stores running well. Today’s
restructuring of our facilities in the Carolinas,
Winn-Dixie associates receive pay and benefits
for example. We opened a new retail support
among the best in the industry, plus the
center (warehouse) in Clayton, North Carolina,
opportunity for additional training and
with more than one million square feet,
advancement. We are grateful for their dedicated
replacing our smaller facility in Raleigh, North
service to our customers and for the support
Carolina; and we closed the retail support center
they voluntarily provide to worthwhile causes
in Greenville, South Carolina. We moved stores
including youth mentoring, health and education
between our Raleigh and
programs and disaster relief in the communities
Charlotte divisions to
where they live and work.
balance the volume. The
From their individual acts of kindness to
Greenville retail support
their involvement in organized programs like the
facility is being renovated,
Special Olympics and inner city recreation, our
enlarging the capacity of
associates make a positive difference in the lives
our general merchandise
of many people from all walks of life. We thank
center there. Our plans
all of them for their commitment to their
also include an enlargement
customers and their communities.
of our Charlotte, North
Carolina, retail support
center.
We also opened a retail support center for
Charles H. McKellar
perishable goods in Montgomery, Alabama. And
Executive Vice President
we are planning a new, larger retail support
center in Jacksonville, Florida. In conjunction
with these improvements, we have increased the
efficiency of our inventory system, which will
A SPECIAL SALUTE
help ensure that customers visiting our stores
can always find what they want at any time.
We extend a special salute to our associates who
Our store interiors are better than ever, received annual Founders Awards as Associate
with more departments, additional emphasis on Good Citizens of the Year in their divisions as part
customer assistance and special products and of our Good Citizenship program: Elease Nicely,
services tailored to the needs and lifestyles of the Atlanta; Nancy Lowery and William “Sonny”
Boroughs, Charlotte; Dwayne Thomas,
people who walk through our doors. Our
Jacksonville; Joshua Swink, Ft. Worth; Katherine
number of pharmacies, for example, rose 17.5
Stagg, New Orleans; Carolyn and Bill Marshall,
percent last year. By the end of the year, we also
Miami; Joseph Pack, Raleigh; Tom Martin,
had a 19.3 percent increase in the number of
Montgomery; Jennifer Wilson and Edward Papin,
bakeries and a 41.2 percent increase in the
Midwest; Lynn McLendon, Orlando; and Bruce
number of stores with banks. More departments LaRocca, Tampa.
4

7. SETUP CONTENT
PER STORE
AVERAGE SQ. FOOTAGE
SQUARE FOOTAGE
TOTAL RETAIL STORE (in thousands)
(in millions)
44
50
42
48
40
46
38
44
36
42
34
40
1994 1995 1996 1997 1998
1994 1995 1996 1997 1998
W Marketplace today and have a look around. You will
hile you’re at the notice Harvest Fresh produce that includes the season’s
Winn-Dixie Marketplace best garden variety selections, along with more exotic
these days, you can enjoy an expanding roots and herbs, plus a colorful fruit and vegetable bar
variety of convenient services and quality products, all with an assortment of fresh-cut items. You will also
provided by friendly associates whose goal is to give see an oven fresh bakery featuring breads and pastries
to suit every taste, where you can choose from more
than 100 cake designs for special occasions and
ISN’T LIFE DELICIOUS our farm fresh dairy products, often including
an international cheese shop.
If you visit Fisherman’s Wharf, you can
you the best one-stop shopping experience
select from a catch of fresh seafood that we will
that the supermarket industry offers.
steam and season upon request at no additional
Our promise
charge. Our Prestige Meat
remains 100 percent
shop features the WD Brand
customer satisfaction.
U.S. Choice aged beef that
To deliver on this
made us The Beef People,
promise, we stock
along with pork, lamb and
thousands of different
poultry. Our meat selections
food and nonfood items
include oven-ready entrees,
and offer dozens of
marinated meats and any
personal services. We
custom, thin or other special
strive to make sure every
cut you like.
customer receives value,
For your convenience,
which means both
the Winn-Dixie
quality and competitive
Marketplace offers
prices, as well as
meals and servings
courteous, individual
prepared to any stage that
attention.
fits your plans — from
Walk into a
completely cooked carry-out
Winn-Dixie
5

8. SETUP CONTENT
PHARMACIES
700
600
500
400
300
200
1994 1995 1996 1997 1998
ONE-HOUR PHOTO LABS
600
500
400
Our pharmacy coordinators help manage our growing number of pharmacies,
300
where customers can have their prescriptions filled while they shop.
200
dinners to items you can simply put in the oven or
100
microwave yourself when you get home. You might
0
decide to stop by our Deli-Cafe and enjoy a snack right
1994 1995 1996 1997 1998
there, near the soup and salad bar, and perhaps pick up a
cooking tip from one of our in-store chefs while you sit
BAKERY DEPARTMENTS
down and take a break. We have hot and
700
cold deli offerings from sliced meats
600
and cheeses, sandwiches and subs, to
chef-prepared hot entrees with your
500
favorite sides
400
and a variety
of festive
300
party platters.
200
Many of our
1994 1995 1996 1997 1998
locations
today are
IN-STORE BANKS
open 24 hours
250
a day, seven
200
days a week.
On
150
our shelves
100 throughout
the Winn-Dixie Marketplace are thousands of national
50
brand and private label products from which to choose.
0 When you walk through the aisles, you will notice not
1994 1995 1996 1997 1998
6

9. SETUP CONTENT
Since our founding 73
only the abundance of food
years ago, the corner grocery
items, but expanded specialty
store has evolved into a mod-
sections and departments
ern supermarket from which
including health and beauty
today’s shoppers and their fami-
aids, greeting cards, books and
lies demand much more. We
magazines and household
have operated successfully all
supplies — more variety under
these years by keeping focused
one roof than ever before.
on what our customers want
You also will find more
and delivering it.
in-store services than you
Putting our customers
might expect. A floral shop
first remains our philosophy
with gifts and fresh-cut flowers
today — to make sure that
for Mother’s Day, weddings,
our customers can count on
Valentine’s Day or just to show
the quality products and
someone you care. A one-hour
services they want every time
photo lab where you can get
they visit us.
quality prints, enlargements
While you’re at the Winn-Dixie Marketplace,
and slides, as well as film, cameras, batteries, frames
we are determined to give you the best one-stop shop-
and albums. And at many Winn-Dixie Marketplace
ping experience in the business. Come see for yourself
locations, convenient dry cleaning services are
and enjoy!
available.
Today’s Winn-Dixie Marketplace is also
designed with financial services in mind. When you
enter the store, you will find an ATM inside for your
safety and convenience. At an increasing number of
locations, we have full-service in-store bank branches
for our customers. Other features available at our stores
include money orders and cash transfers along with
such extras as UPS shipping, postage stamps and pre-
paid phone cards.
Our in-store pharmacy makes it convenient for
you to have your prescriptions filled while you shop.
We offer brand-name prescription medicines, plus a full
line of generic drugs. Our pharmacist on duty is avail-
able for personal counseling about your prescriptions
and our stores are adding new Mayo Clinic Health
Information Centers where you can obtain health tips.
We are committed to giving our Winn-Dixie
Marketplace customers real value, which means quality
products and services at the low prices people expect at
Our district managers regularly visit our stores to ensure ongoing
Winn-Dixie. excellence in serving our customers.
7

10. FINANCIAL REVIEW SETUP CONTENT
Results of Operations During 1998, the Company began its
consolidation of our accounting departments to
During fiscal year 1998, we continued our focus corporate headquarters. The opening of our new
on preparing our retail stores, not only for today’s distribution facility in Raleigh, North Carolina, resulted
customer, but for our customers in the coming in the closing and the sale of the older Raleigh
millennium. While we had hoped that our current distribution facility; the closing of the Greenville, South
year’s results would have been better, we are committed Carolina distribution facility which will be converted
to stay the course and reach for our longer-term into a general merchandise facility; and the
objectives. reorganization of our Raleigh and Charlotte divisions.
Sales for 1998 totaled $13.6 billion, a 3.0% The Company experienced a nonrecurring
increase over 1997. The Company experienced a 0.3% administrative charge totaling $18.1 million (after tax,
decrease in identical store sales in 1998, as compared to $11.0 million or $0.07 per diluted share) due to these
a decrease of 0.9% in 1997. Sales for the fourth quarter activities.
were $3.3 billion, a $188.4 million increase, or 6.2% Cash discounts and other income totaled $115.4
over the comparable quarter last year. The fourth million in 1998 and $119.4 million in 1997.
quarter sales increase was produced by aggressive Interest expense, which consists primarily of a
pricing and increased promotional activity. computation of interest on capital lease obligations and
During 1998, our Company opened and acquired from short-term borrowings, totaled $28.5 million in
84 additional stores averaging 50,000 square feet and 1998, as compared to $22.1 million in 1997. The
closed 90 smaller and older stores averaging 30,500 increase in interest expense reflects the increase in
square feet. We also enlarged or remodeled 136 store short-term borrowings.
locations. On June 24, 1998, we operated 1,168 stores Earnings before income taxes decreased from
averaging 42,400 square feet, as compared to 1,174 $319.4 million in 1997 to $317.8 million in 1998. The
stores averaging 40,700 square feet in 1997 and 1,178 decrease in pretax earnings is primarily a result of the
stores averaging 38,800 square feet in 1996. Total retail increase in operating expenses as previously mentioned.
store square footage has increased from 45.7 million in Income tax expense increased from $115.0
1996, to 47.8 million in 1997 and to 49.6 million in million in 1997 to $119.2 million in 1998, due to the
1998. effective income tax rate increasing from 36.0% in 1997
Our marketing strategy is designed to provide to 37.5% in 1998. The effective tax rate reflects a
our customers with the best quality, variety and service change made by the Health Insurance Portability and
at competitive prices. During 1998, our gross profit Accountability Act of 1996, whereby certain deductions
dollars increased $308.1 million and our gross profit for interest relating to indebtedness with respect to
margin increased from 25.1% in 1997 to 26.6% in 1998. certain corporate owned life insurance (COLI) policies
Operating margins improved with an increase in the are being phased out over a three-year period.
number of larger stores, added service departments and Net income for 1998 totaled $198.6 million, as
improved pricing. compared to $204.4 million in 1997, a 2.8% decrease.
Approximately 88% of our inventories are Earnings per diluted share totaled $1.33 in 1998, as
valued under the LIFO (Last-In, First-Out) method. Our compared to $1.36 in 1997, a decrease of $0.03 per
LIFO valuations of inventories resulted in an increase in share.
gross profit of $12.1 million in 1998, as compared to a In 1998, our Company experienced deflation in
decrease of $2.7 million in 1997. In 1998, our Company our LIFO computation. The computation resulted in an
experienced deflation in product costs. increase in net earnings of $7.4 million, or $0.05 per
Increases in depreciation expense, occupancy diluted share in 1998, as compared to a decrease in net
costs, a higher payroll percentage in our larger stores earnings of $1.6 million, or $0.01 per diluted share in
and training costs associated with our emphasis toward 1997.
increased customer service were the major contributing The Company’s goal of a 20.0% return on
factors of our increase in operating and administrative average equity was not attained in 1998 or 1997. Our
expenses in 1998. Operating and administrative return on average equity was 14.7% in 1998 and 15.3%
expenses, as a percent of sales, were 24.8% in 1998, as in 1997. For the past 5 years, our return on average
compared to 23.4% in 1997 and 21.6% in 1996. equity has averaged 18.3%.
8

11. SETUP CONTENT
Liquidity and Capital Resources was outstanding under these facilities, as compared to
$380.0 million on June 25, 1997.
The Company’s financial condition remains The Company believes that both its short-term
sound and strong at year end. Excluding obligations and long-term capital needs will be sufficiently provided
under capital leases, we have no financial long-term through the cash flow generated by its normal business
debt. Shareholders’ equity increased $31.4 million and operations and its available financing programs.
our equity to total capitalization ratio increased from
96.1% in 1997 to 96.6% in 1998.
Cautionary Statement Regarding
Cash and cash equivalents increased from $14.1
Forward-Looking Information and
million in 1997 to $23.6 million in 1998. Cash
Statements
provided by operating activities amounted to $464.5
million in 1998 and $413.9 million in 1997. This Annual Report contains certain
Capital expenditures in 1998 totaled $369.6 information that constitutes “forward-looking
million, a $53.5 million decrease from 1997. This statements” within the meaning of the Private
decrease is attributable to a decline in asset purchases Securities Litigation Reform Act, which involves risks
and an increase in sales of assets. When considering the and uncertainties. Actual results may differ materially
capital investment of our landlords for leased premises, from the results described in the forward-looking
the capital investment in 1998 relating to facilities statements. When used in this document, the words,
operated by our Company is estimated to be $850.0 “estimate,” “project,” “intend,” “believe,” and other
million. Total capital investment for 1999 is estimated similar expressions, as they relate to the Company, are
to be $800.0 million. There are no material intended to identify such forward-looking statements.
construction or purchase commitments outstanding as Such statements reflect the current views of the
of June 24, 1998. Company and are subject to certain risks and
Since the timing of cash inflows and outflows is uncertainties that include, but are not limited to,
not always the same, the Company has authorized a growth, competition, inflation, pricing and margin
$500.0 million Commercial Paper Program. In support pressures, law and taxes. Please refer to discussions of
of this program, or as an independent source of short- these and other factors in this Annual Report and other
term funds, the Company also has available $495.0 Company filings with the Securities and Exchange
million in short-term bank lines of credit, which are Commission. The Company disclaims any intent or
renewable on an annual basis. These immediately obligation to update publicly these forward-looking
available financing programs can be used for any general statements, whether as a result of new information,
corporate purpose. On June 24, 1998, $420.0 million future events or otherwise.
EARNINGS AND DIVIDENDS
AVERAGE ANNUAL SALES PER RETURN ON EQUITY
PER SHARE
STORE IN MILLIONS OF DOLLARS
12.0
11.7
$2.00
11.3
11.5
1.68 25%
11.0 1.55
11.0 1.50 21.2
1.45 1.36 20.3
Goal
1.33
19.9
20
10.5 15.3
10.0 14.7
1.00 1.02 15
0.96
10.0 0.885
9.6 0.78 10
0.72
.50
9.5
5
9.0
1994 1995 1996 1997 1998 1994 1995 1996 1997 1998 1994 1995 1996 1997 1998
Earnings per diluted share
Dividends per share
Present Dividend Rate $1.02 per share
9

12. SETUP CONTENT
CONSOLIDATED STATEMENTS OF EARNINGS
Years Ended June 24, 1998 and June 25, 1997 1998 1997
Amounts in thousands except per share data
Net sales $ 13,617,485 13,218,715
Cost of sales, including warehousing and delivery expenses 9,993,568 9,902,862
Gross profit on sales 3,623,917 3,315,853
Operating and administrative expenses 3,374,905 3,093,767
Consolidation and distribution facility closing charge 18,080 —
Operating income 230,932 222,086
Cash discounts and other income, net 115,395 119,435
346,327 341,521
Interest expense 28,535 22,079
Earnings before income taxes 317,792 319,442
Income taxes 119,172 114,999
Net earnings $ 198,620 204,443
Basic earnings per share $ 1.34 1.36
Diluted earnings per share $ 1.33 1.36
CONSOLIDATED BALANCE SHEETS
June 24, 1998 and June 25, 1997
Assets 1998 1997
Amounts in thousands
Current assets:
Cash and cash equivalents $ 23,566 14,116
Trade and other receivables, net 146,166 175,679
Merchandise inventories at lower of cost or market
less LIFO reserve of $212,869,000 ($224,999,000 in 1997) 1,404,917 1,249,215
Prepaid expenses 161,141 148,961
Total current assets 1,735,790 1,587,971
Investments and other assets 140,450 182,628
Deferred income taxes 22,626 22,129
Net property, plant and equipment 1,169,848 1,128,681
$ 3,068,714 2,921,409
Liabilities and Shareholders’ Equity
Current liabilities $ 1,507,209 1,392,613
Obligations under capital leases 48,580 54,026
Defined benefit plan 37,102 33,452
Reserve for insurance claims and self-insurance 93,514 94,783
Other liabilities 13,426 9,041
Shareholders’ equity 1,368,883 1,337,494
$ 3,068,714 2,921,409
10

13. SETUP CONTENT
N
ew York Stock
v v Winn-Dixie Charlotte honored
New York Stock Exchange Listing Transportation s
(2/18/52) WIN Number of tractors — 1,100 teachers at the ninth annual
s
Exchange Number of trailers — 2,100 Winn-Dixie Golden Apple Awards
s
Listing Number of drivers — 1,300 sponsored with WYFF-TV.
s
Miles traveled — 71 million Winn-Dixie Jacksonville sponsored
(2/18/52) WIN
s s
Amount of merchandise “Drive for Meals,” a golf tourna-
s
delivered — 6.1 million tons ment held to support the Meals on
v Year Founded — 1925
Wheels program.
v Retail Automation
v Sales — $13.6 Billion Winn-Dixie Miami associates paid
s
Mini computers are in all retail
s
64 consecutive years of sales
s
for and built a Habitat for
locations
increases Humanity home in Ft. Lauderdale,
Labor scheduling
s
Average annual sales per store —
s
completing construction in just six
Check verification
s
$11.7 million weeks.
Computer-assisted ordering
s
Federal, state and local taxes —
s
Winn-Dixie Montgomery provided
s
Time and attendance
s
$302.3 million disaster relief to the American Red
Work planning
s
Taxes per diluted share — $2.03
s
Cross for victims of the
Interviewing
s
Earnings per diluted share — $1.33
s
Birmingham area tornadoes.
Electronic mail
s
Dividends per share — $1.02
s
Winn-Dixie Midwest raised money
s
Electronic scale monitoring
s
(Present annual rate — $1.02) for the American Cancer Society
Direct-delivery receiving
s
v Number of Associates — 139,000 with Celebrity Baggers Day at
In-store accounting
s
Winn-Dixie and Thriftway stores.
v Number of Stores — 1,168 Electronic payment system
s
Winn-Dixie New Orleans helped
s
Total square footage — 49.6 million
s
v Environmental Statement
revitalize New Orleans area play-
Average square footage per store —
s
Recycling is important to our envi-
s
grounds through its Diamond of
42,400 ronment and to our Company.
Dreams program.
Number of communities served —
s
Last year, we supplied more than
Winn-Dixie Orlando made a five-
s
over 700 196,000 tons of paper and card-
year pledge to the Central Florida
board to recycling companies. The
Boy Scouts Council to make
Company also collects plastic and
WINN-DIXIE improvements in a former hunting
paper bags from our customers for
lodge turned Scout camp.
recycling.
AT A GLANCE Winn-Dixie Raleigh collected a
s
record 226,000 pounds of canned
M
ajor goods for the needy on Winn-Dixie
Contributions Day at the North Carolina State
v Real Estate Development Fair.
to Our
Enlarged/
Winn-Dixie Tampa raised money
v Major Contributions to Our s
New Remodeled
Community to fight muscular dystrophy at the
Community
1998 84 136 fifth annual MDA Golf
s
1999 (Projected) 85 90 Tournament.
s
Winn-Dixie presented Good
s
Winn-Dixie Texas again supported
Citizenship Awards, along with
v 22 Manufacturing Facilities s
the Texas Speedway Children’s
more than $ 6.3 million, to hun-
Ice cream and milk bottling
s
Charities, helping needy children
dreds of civic, youth, service and
Coffee, tea and spices
s
in Texas and Oklahoma.
educational organizations.
Detergents
s
Winn-Dixie Stores Foundation
Meat processing s
s
contributed over $4.4 million to
Jams, jellies, peanut butter and
s
OHIO
20
community organizations, includ-
condiments INDIANA VIRGINIA
2 35
ing $2.0 million in associate
Canned and bottled carbonated KENTUCKY
s
61
matching grants.
beverages
NORTH CAROLINA
126
TENNESSEE
23
Individual stores
Egg processing
s
OKLAHOMA
SOUTH CAROLINA
5
77
gave another $2.1
Cheese products
s
GEORGIA
ALABAMA
119
million in
101
Crackers, cookies and snacks
s
TEXAS
financial
Oleomargarine 67
s MISSISSIPPI
15
and in-kind
Frozen pizza
s FLORIDA
LOUISIANA
427
77
contributions.
Cottage cheese and yogurt
s
BAHAMAS
Winn-Dixie Atlanta
Paper bags s 13
s
made possible the new v Total Stores – 1,168
v 17 Warehouse and Distribution
Winn-Dixie Hope Lodge
Centers
in Atlanta, Georgia, for cancer
Items stocked — 34,800
s
patients and their visiting family
Tonnage — 5,987,000
s
members.
11

14. MANAGEMENT SETUP CONTENT
Board of Directors
A. Dano Davis James Kufeldt Julia B. North
Chairman and Principal President President and Chief Executive Officer of VSI
Enterprises, Inc. ∆ •
Executive Officer +
Radford D. Lovett
Robert D. Davis Carleton T. Rider
Chairman, Commodores Point Terminal
Corporation + ∆ •
Chairman, DDI, Inc. + Continuous Improvement Officer,
Mayo Foundation ∆ •
Armando M. Codina Charles H. McKellar
Chairman, Codina Group, Inc. ∆ • Charles P. Stephens
Executive Vice President
Vice President,
T. Wayne Davis David F. Miller
Norman W. Paschall Co., Inc. + ∆
Chairman, Transit Group, Inc. + Private Investor ∆
∆ - Audit Committee
+ - Nominating Committee
• - Compensation Committee
Management, their ages and years of service:
Division Presidents and
Executive Committee Corporate Vice Presidents Corporate Officers
A. Dano Davis, 53, 30 R. J. Brocato, 54, 34 B. C. Baxter, 52, 32
Chairman and Principal Executive Officer President, Atlanta Division Vice President
97 Stores Director of Marketing
James Kufeldt, 59, 37
President and Chairman of W. C. Calkins, 59, 39 D. H. Bragin, 54, 37
Executive Committee President, Jacksonville Division Treasurer and Principal Accounting Officer
99 Stores
Charles H. McKellar, 60, 41 W. F. Brim, 62, 45
Executive Vice President J. W. Critchlow, 51, 30 Vice President
President, Raleigh Division Director of Seafood Merchandising
H. E. Hess, 58, 40 121 Stores
Senior Vice President, Regional Director J. H. Childers, 59, 42
of Atlanta, Orlando, Montgomery and R. J. Ehster, 57, 40 Vice President
New Orleans Divisions President, Miami Division Director of Grocery Merchandising
116 Stores
R. A. Sevin, 55, 37 G. E. Clerc, Jr., 63, 37
Senior Vice President, Regional Director J. D. Fitzgerald, 48, 27 Vice President
of Tampa, Miami, Fort Worth and President, Charlotte Division Director of Public Relations
Midwest Divisions 138 Stores
J. L. Cooper, 64, 45
C. E. Winge, 53, 35 D. G. Lafever, 49, 31 Vice President
Senior Vice President, Regional Director President, Orlando Division Director of Manufacturing
of Jacksonville, Charlotte, Raleigh and 105 Stores
J. W. Dixon, 56, 34
Bahama Divisions
R. C. Lunn, 46, 29 Secretary
L. H. May, 53, 33 President, New Orleans Division
R. L. Hutton, 46, 31
Vice President 86 Stores
Vice President
Director of Associate Relations/Human
H. E. Miller, 66, 42 Director of Government Relations
Resources
President, Montgomery Division
D. J. Ledford, 62, 45
R. P. McCook, 45, 14 126 Stores
Vice President
Financial Vice President and
L. J. Sadlowski, 57, 41 Director of Meat Merchandising
Principal Financial Officer
President, Fort Worth Division
T. M. Moon, 48, 30
E. E. Zahra, Jr., 51, 4 72 Stores
Vice President
Vice President
J. A. Schlosser, 49, 31 Director of Deli/Bakery Merchandising
General Counsel
President, Midwest Division
C. R. Raulerson, 55, 38
85 Stores
Vice President
M. A. Sellers, 44, 25 Director of Information Systems
President, Tampa Division
D. J. Richardson, 48 ,32
110 Stores
Vice President
Director of Produce and Floral Operations
W. H. Sutton, 51, 27
Vice President
Director of General Merchandise
A. C. Webb, 57, 38
Vice President
Director of Services
12

15. SHAREHOLDER INFORMATION SETUP CONTENT
Shareholder Communications Corporate Headquarters
Please address any inquiries or comments to: Winn-Dixie Stores, Inc.
P. O. Box B
First Chicago Trust Company of New York
Jacksonville, Florida 32203-0297
Transfer Agent and Registrar
Winn-Dixie Stores, Inc. Internet Address: http://www.winndixie.com
P. O. Box 2500
Transfer Agent and Registrar
Jersey City, New Jersey 07303-2500
Toll-Free Number: 1-888-U-CALL-WD First Chicago Trust Company of New York
(1-888-822-5593) P. O. Box 2500
Jersey City, New Jersey 07303-2500
For Hearing Impaired: 1-201-222-4955
E-mail Address: fctc@em.fcnbd.com
Dividend Reinvestment
Internet Address: http://www.fctc.com
The Company’s Dividend Reinvestment Plan allows
or our shareholders who own at least 10 shares in
certificate form to reinvest dividends on Winn-Dixie
Shareholder Relations
common stock automatically, without service charges
Winn-Dixie Stores, Inc.
or brokerage fees. Participating shareholders may also
P. O. Box B
supplement the amount invested with voluntary cash
Jacksonville, Florida 32203-0297
investments on the same cost-free basis. Approximately
The Company’s annual report to the Securities and
61% of the Company’s shareholders participate in the
Exchange Commission on Form 10-K may be obtained
Dividend Reinvestment Plan. More information may
by any shareholder, free of charge, upon written request
be obtained by contacting First Chicago Trust Company
to the Company.
of New York.
Stock Market Listing Direct Deposit
New York Stock Exchange
The Company offers direct deposit of dividends
Symbol: WIN
to our shareholders. More information may be
obtained by contacting First Chicago Trust Company
Annual Shareholders’ Meeting of New York.
You are cordially invited to attend the meeting to be
held Wednesday, October 7, 1998, 9:00 a.m., at the
Prime Osborn Convention Center, Room 102,
1000 West Water Street, Jacksonville, Florida.
Formal notice of the meeting, a proxy and proxy
statement are being mailed to shareholders of record as
of the close of business on July 31, 1998.
13

16. SETUP CONTENT
www.winndixie.com