Winn-Dixie reported earnings per share of $1.23 and taxes per share of $2.07 in their 1999 annual report. The report also included a special tribute to retiring president James Kufeldt for his leadership and contributions to Winn-Dixie over 38 years. Highlights from the annual report showed sales increased 3.8% to $14.1 billion while net earnings decreased 7.5% to $1.23 per share.
This annual report summarizes the financial performance of Winn-Dixie Stores, Inc. for the 1998 fiscal year. It operated 1,168 supermarkets across 14 states and the Bahamas. Key highlights include total sales of $13.6 billion, earnings per share of $1.33, taxes per share of $2.03, and a return on average equity of 14.7%. The report discusses Winn-Dixie's strategy of focusing on larger store formats and improving customer service to position itself for future success.
The 2002 annual report summarizes Gannett Co.'s financial performance for the year. Key highlights include operating revenues of $6.4 billion, a 1.9% increase over 2001, operating income of $1.9 billion, a 21.2% increase over 2001, and net income of $1.16 billion, a 39.6% increase over 2001. The CEO notes that while the economy remained weak, Gannett performed well due to its preparations and success-focused culture, with operating cash flow increasing 5.7% and diluted earnings per share increasing 10% after adjusting for new accounting rules.
Winn-Dixie is one of the largest supermarket chains in the US, operating 1,174 stores across 14 states. In 1997, Winn-Dixie saw sales increase 2% to $13.2 billion while earnings decreased 20% to $204 million due to investments in store renovations and openings. The company worked to improve the customer experience through remodeling and expanding stores, adding new services like pharmacies and banks, and focusing on low prices and quality products.
The document discusses Gannett's strategic plan and progress in 2006 toward transforming the company to embrace changes in consumer demand and technology. Key points:
- Gannett formed Gannett Digital to grow its digital business and capture a share of the growing online advertising market.
- Gannett made acquisitions and partnerships to enhance its capabilities in areas like local search, mobile, video and rich media advertising.
- The strategic plan focused on innovation, transforming newsrooms into information centers, and developing leadership. Significant progress was made in 2006 on these initiatives.
- Financial results for 2006 were strong, with operating revenues reaching a record $8.03 billion, though operating income declined slightly.
The document summarizes the financial performance of Bed Bath & Beyond for fiscal years 2003, 2002, and 2001. Some key highlights include:
- Net sales increased 25.2% in fiscal 2003 and 22.2% in fiscal 2002.
- Gross profit increased 25.8% in fiscal 2003 and 22.4% in fiscal 2002.
- Operating profit increased 13.1% as a percentage of net sales in fiscal 2003, up from 11.8% in fiscal 2002 and 11.4% in fiscal 2001.
- Selling, general and administrative expenses decreased as a percentage of net sales, from 29.4% in fiscal 2002 to 28.3% in fiscal 2003.
This document is Gannett's 2003 annual report. It discusses Gannett's financial results for 2003, which included record operating revenues of $6.7 billion and net income of $1.21 billion, up 4% from 2002. It provides an overview of Gannett's business segments, which include newspapers, broadcasting stations, and digital media. The letter to shareholders discusses some of the challenges Gannett faced in 2003 from economic conditions and regulatory changes, but also highlights areas of growth such as new youth-oriented newspaper publications and increased online revenues. Acquisitions that expanded Gannett's operations in the U.S. and U.K. are also summarized.
This 2001 annual report from Kelly Services summarizes their financial performance for the year. It begins with a dedication to Terence E. "Ted" Adderley Jr., the son of their Chairman and CEO, who was killed in the September 11th attacks. It then discusses how the economic recession and 9/11 impacted their business, with sales down 5% to $4.3 billion and earnings down 81% to $16.5 million from the previous year. However, they were still able to assign over 700,000 employees and gain market share. The report outlines how they focused on strengthening relationships, controlling expenses, and gaining market share to manage through the difficult economic conditions.
The Clorox Company reported financial results for the second quarter and first half of fiscal year 2009. Net sales increased 3% to $1.216 billion in the quarter and 7% to $2.6 billion in the first six months. Earnings per share were $0.62 for the quarter and $1.52 for the six month period. The North America segment grew net sales 3% to $1.007 billion and earnings 6% to $273 million in the quarter. International sales were flat at $209 million in the quarter but earnings declined 24% to $29 million. Total assets were $4.398 billion against $4.801 billion in total liabilities as of December 31, 2008.
This annual report summarizes the financial performance of Winn-Dixie Stores, Inc. for the 1998 fiscal year. It operated 1,168 supermarkets across 14 states and the Bahamas. Key highlights include total sales of $13.6 billion, earnings per share of $1.33, taxes per share of $2.03, and a return on average equity of 14.7%. The report discusses Winn-Dixie's strategy of focusing on larger store formats and improving customer service to position itself for future success.
The 2002 annual report summarizes Gannett Co.'s financial performance for the year. Key highlights include operating revenues of $6.4 billion, a 1.9% increase over 2001, operating income of $1.9 billion, a 21.2% increase over 2001, and net income of $1.16 billion, a 39.6% increase over 2001. The CEO notes that while the economy remained weak, Gannett performed well due to its preparations and success-focused culture, with operating cash flow increasing 5.7% and diluted earnings per share increasing 10% after adjusting for new accounting rules.
Winn-Dixie is one of the largest supermarket chains in the US, operating 1,174 stores across 14 states. In 1997, Winn-Dixie saw sales increase 2% to $13.2 billion while earnings decreased 20% to $204 million due to investments in store renovations and openings. The company worked to improve the customer experience through remodeling and expanding stores, adding new services like pharmacies and banks, and focusing on low prices and quality products.
The document discusses Gannett's strategic plan and progress in 2006 toward transforming the company to embrace changes in consumer demand and technology. Key points:
- Gannett formed Gannett Digital to grow its digital business and capture a share of the growing online advertising market.
- Gannett made acquisitions and partnerships to enhance its capabilities in areas like local search, mobile, video and rich media advertising.
- The strategic plan focused on innovation, transforming newsrooms into information centers, and developing leadership. Significant progress was made in 2006 on these initiatives.
- Financial results for 2006 were strong, with operating revenues reaching a record $8.03 billion, though operating income declined slightly.
The document summarizes the financial performance of Bed Bath & Beyond for fiscal years 2003, 2002, and 2001. Some key highlights include:
- Net sales increased 25.2% in fiscal 2003 and 22.2% in fiscal 2002.
- Gross profit increased 25.8% in fiscal 2003 and 22.4% in fiscal 2002.
- Operating profit increased 13.1% as a percentage of net sales in fiscal 2003, up from 11.8% in fiscal 2002 and 11.4% in fiscal 2001.
- Selling, general and administrative expenses decreased as a percentage of net sales, from 29.4% in fiscal 2002 to 28.3% in fiscal 2003.
This document is Gannett's 2003 annual report. It discusses Gannett's financial results for 2003, which included record operating revenues of $6.7 billion and net income of $1.21 billion, up 4% from 2002. It provides an overview of Gannett's business segments, which include newspapers, broadcasting stations, and digital media. The letter to shareholders discusses some of the challenges Gannett faced in 2003 from economic conditions and regulatory changes, but also highlights areas of growth such as new youth-oriented newspaper publications and increased online revenues. Acquisitions that expanded Gannett's operations in the U.S. and U.K. are also summarized.
This 2001 annual report from Kelly Services summarizes their financial performance for the year. It begins with a dedication to Terence E. "Ted" Adderley Jr., the son of their Chairman and CEO, who was killed in the September 11th attacks. It then discusses how the economic recession and 9/11 impacted their business, with sales down 5% to $4.3 billion and earnings down 81% to $16.5 million from the previous year. However, they were still able to assign over 700,000 employees and gain market share. The report outlines how they focused on strengthening relationships, controlling expenses, and gaining market share to manage through the difficult economic conditions.
The Clorox Company reported financial results for the second quarter and first half of fiscal year 2009. Net sales increased 3% to $1.216 billion in the quarter and 7% to $2.6 billion in the first six months. Earnings per share were $0.62 for the quarter and $1.52 for the six month period. The North America segment grew net sales 3% to $1.007 billion and earnings 6% to $273 million in the quarter. International sales were flat at $209 million in the quarter but earnings declined 24% to $29 million. Total assets were $4.398 billion against $4.801 billion in total liabilities as of December 31, 2008.
omnicom group Q4 2007 Investor Presentationfinance22
Omnicom Group reported its fourth quarter and full year 2007 results. Revenue for the fourth quarter increased 12.7% to $3.6 billion compared to $3.2 billion in the prior year period. Full year revenue grew 11.6% to $12.7 billion. Growth was driven by a 5% benefit from foreign exchange rates, 1.1% from acquisitions, and 6.6% organic growth in the fourth quarter. Earnings per share for the fourth quarter increased 18.5% to $0.97 compared to $0.82 in the prior year.
DTE Energy reported financial results for the fourth quarter and full year 1999. For the quarter, operating revenues increased 10.1% to $1.1 billion but net income decreased 9.3% to $97 million due to higher fuel and operating costs. For the full year, operating revenues rose 12.0% to $4.7 billion while net income grew 9.0% to $483 million due to increased industrial sales and non-regulated business income, partially offset by higher fuel expenses. Cash from operating activities totaled $1.1 billion for 1999.
allstateFinancial Highlights, Shareholder Letter and Our Customer Family 1998finance7
- Cay Chavez Jr. is a new 17-year-old driver who purchased an '85 Cougar that he is restoring.
- He has an auto policy through Allstate to cover the costs of driving and maintaining the vehicle.
- Allstate agents provide educational materials and safety programs to help new teen drivers drive responsibly.
The Pantry, Inc. 2001 Annual Report summarizes the company's strategic moves in fiscal 2001 to strengthen its future. Despite challenges from rising gas prices and economic downturn, the company streamlined processes, enhanced efficiency, and implemented technology initiatives like new reporting and inventory systems. It acquired 45 stores to strengthen its market position but curtailed aggressive expansion. The Pantry focused on cost cuts, improving merchandise sales, and leveraging new fuel pricing systems to balance profits and volume in a volatile gas market. It positioned itself to capitalize on future growth opportunities once market conditions improve.
This document is Gannett Co., Inc.'s 2005 annual report. It includes the company's financial summary for 2005, a letter to shareholders from the chairman and CEO, and information about the company's operations. The letter discusses leadership changes at Gannett in 2005, the company's financial performance for the year which saw increased revenues and operating cash flow despite challenges, and strategic acquisitions and investments made to expand Gannett's digital offerings and ability to reach audiences across multiple platforms.
- The document provides a weekly market recap for the week ending May 18, 2012. It includes headlines on events like Greece failing to form a government and unchanged FOMC guidance. Economic data like CPI and retail sales are also mentioned.
- Index levels declined over the prior week. Bond rates were largely unchanged. Commodity prices like gold and oil declined slightly.
- The author notes ongoing concerns about Europe and a potential hard landing in China, though the US economy appears stronger than China's currently. Overall US equities still appear attractive relative to valuations.
This document is the 2004 annual report of Gannett Co., Inc. It summarizes the company's strong financial performance in 2004, with record revenues of $7.4 billion, net income of $1.32 billion, and diluted earnings per share of $4.92. The CEO credits these results to the company's strategies of pursuing growth opportunities, delivering news and information across multiple platforms, and investing in people and new technologies. Challenges in 2004 included an uneven economy and restrictive media ownership regulations.
The document is the 2002 annual report for The Timken Company. It discusses how the company's ongoing transformation has positioned it for strong future growth and profitability. In 2002, the company delivered improved financial results including net income of $53.3 million, excluding restructuring charges. It also completed a major acquisition of The Torrington Company in early 2003, significantly increasing the company's size and expected to boost earnings per share by at least 10%. The acquisition supports the company's transformation into a global leader in tapered roller bearings, needle roller bearings, and alloy steels.
Commerce Bancshares reported earnings of $0.66 per share for the third quarter of 2009, up from $0.48 per share in the previous quarter. Net income increased 40% to $51.6 million compared to $37 million in the prior quarter. Total revenue grew 4% while expenses were well controlled. The company strengthened its balance sheet by increasing tangible common equity and loan loss reserves while improving its liquidity and capital positions. Total assets were $18 billion as of September 30, 2009.
omnicom group Q3 2007 Investor Presentationfinance22
Omnicom Group presented results for the third quarter of 2007. Revenue increased 11.8% to $3.1 billion compared to the third quarter of 2006. Net income rose 14.2% to $202.2 million. Acquisition spending totaled $329 million for the first nine months of 2007, and potential future earn-out obligations total $374 million if acquired agencies maintain current performance levels through 2010 and beyond.
Winn-Dixie Stores, Inc. saw disappointing financial results in 2000 with sales decreasing 3.1% from the previous year. The company underwent a major restructuring process in 2000, closing underperforming stores, consolidating operations, and eliminating over 11,000 jobs. These changes resulted in large one-time restructuring charges that contributed to a net loss for the year. However, the changes were expected to result in annual ongoing cost savings of approximately $400 million going forward to improve the company's competitive position.
Winn-Dixie Stores, Inc. filed for Chapter 11 bankruptcy protection in February 2005 and underwent a major restructuring that included closing stores in 14 markets and reducing its workforce. The CEO discusses the challenges facing the company and the steps taken to improve operations, including focusing on produce, meat, and other perishables departments. While acknowledging the company still has progress to make, the CEO expresses optimism that Winn-Dixie is improving and will earn back customers' trust through delivering better quality, service, and value.
Dole Food Company paid cash distributions of $.10 per share per quarter to shareholders in 1996. Forms 1099-Div initially reported these distributions as 100% taxable ordinary dividends. Dole has since determined that 100% of the 1996 cash distributions are non-taxable. As a result, shareholders may be entitled to a refund from the IRS and state tax authorities for taxes paid on the distributions in 1996.
Dole Food Company sent a letter to shareholders regarding tax information related to a stock dividend of Castle & Cooke, Inc. common stock. The letter notes that in addition to the stock dividend, Dole paid four quarterly cash dividends of $0.10 per share each. The first two quarterly dividends are taxable, while the last two are believed to not be taxable according to Dole's estimation.
Dole Food Company paid shareholders four quarterly cash distributions of $0.10 per share in 1997. According to the company, all four distributions were returns of capital and not taxable to shareholders. The document provides important tax information to Dole shareholders regarding 1997 cash distributions.
Winn-Dixie Stores, Inc. saw disappointing financial results in 2000 with sales decreasing 3.1% from the previous year. The company underwent a major restructuring process in 2000 that resulted in $396 million in charges to earnings. The restructuring involved closing underperforming stores, consolidating operations, and eliminating over 11,000 jobs. The changes are expected to result in annual cost savings of $400 million once fully implemented.
This document provides information about how shareholders should determine their tax basis in shares of Castle & Cooke, Inc. and Dole Food Company, Inc. following a spin-off distribution of Castle & Cooke shares. Shareholders' tax basis in the Castle shares is the $15.65 fair market value on the distribution date. Any cash received for fractional Castle shares results in short-term capital gain. Shareholders must reduce their tax basis in each Dole share by $5.22 to account for the value of the Castle shares received. The holding period for Castle shares begins on the distribution date.
This annual report summarizes the financial performance and operations of Winn-Dixie Stores, Inc. for the 1998 fiscal year. Key highlights include sales reaching $13.6 billion, a 3% increase over the previous year, with net earnings of $198.6 million. The company continued expanding its store footprint, opening 84 new stores while enlarging or remodeling another 136 locations. Winn-Dixie also invested in new distribution centers and technology to improve operations and the customer shopping experience.
Winn-Dixie is one of the largest supermarket chains in the US, operating 1,174 stores across 14 states. In 1997, Winn-Dixie saw sales increase 2% to $13.2 billion while earnings decreased 20% to $204 million due to investments in remodeling and expanding stores. The company worked to position itself for future success by improving stores and expanding services like pharmacies and banks to provide customers with a one-stop shopping experience.
This document is Bed Bath & Beyond's 2005 Annual Report, which includes their Notice of Annual Meeting and Proxy Statement. It discusses Bed Bath & Beyond's financial highlights for fiscal year 2005, including a 16.4% increase in net earnings per share compared to 2004. It encourages shareholders to vote electronically to save the company money. It also provides instructions for electronic delivery of annual reports and proxy statements to further reduce costs.
The document is Bed Bath & Beyond's 2005 annual report, notice of annual meeting, and proxy statement. It summarizes the company's strong financial performance in fiscal 2005, with record net earnings of $1.92 per share, 12.9% sales growth, and 4.6% comparable store sales growth. It also discusses returning $600 million to shareholders through a share repurchase program, and expanding the store base to 809 total stores across the Bed Bath & Beyond, Christmas Tree Shops, and Harmon brands. The report aims to present shareholders with the required annual information in a straightforward and cost-efficient manner.
Based on Buffett's comments and the table provided, an implied multiplier of approximately 12x can be derived for valuing Berkshire Hathaway based on its pre-tax operating earnings. Buffett separates Berkshire's value into the value of its investments and the value of its operating businesses, and compares this implied intrinsic value to the stock price to determine an implied multiplier. In 1997-1998, when the stock price approximated the implied intrinsic value, the implied multiplier was around 12x based on the pre-tax operating earnings. So a multiplier of 12x pre-tax operating earnings provides a framework for valuing Berkshire according to Buffett's comments.
omnicom group Q4 2007 Investor Presentationfinance22
Omnicom Group reported its fourth quarter and full year 2007 results. Revenue for the fourth quarter increased 12.7% to $3.6 billion compared to $3.2 billion in the prior year period. Full year revenue grew 11.6% to $12.7 billion. Growth was driven by a 5% benefit from foreign exchange rates, 1.1% from acquisitions, and 6.6% organic growth in the fourth quarter. Earnings per share for the fourth quarter increased 18.5% to $0.97 compared to $0.82 in the prior year.
DTE Energy reported financial results for the fourth quarter and full year 1999. For the quarter, operating revenues increased 10.1% to $1.1 billion but net income decreased 9.3% to $97 million due to higher fuel and operating costs. For the full year, operating revenues rose 12.0% to $4.7 billion while net income grew 9.0% to $483 million due to increased industrial sales and non-regulated business income, partially offset by higher fuel expenses. Cash from operating activities totaled $1.1 billion for 1999.
allstateFinancial Highlights, Shareholder Letter and Our Customer Family 1998finance7
- Cay Chavez Jr. is a new 17-year-old driver who purchased an '85 Cougar that he is restoring.
- He has an auto policy through Allstate to cover the costs of driving and maintaining the vehicle.
- Allstate agents provide educational materials and safety programs to help new teen drivers drive responsibly.
The Pantry, Inc. 2001 Annual Report summarizes the company's strategic moves in fiscal 2001 to strengthen its future. Despite challenges from rising gas prices and economic downturn, the company streamlined processes, enhanced efficiency, and implemented technology initiatives like new reporting and inventory systems. It acquired 45 stores to strengthen its market position but curtailed aggressive expansion. The Pantry focused on cost cuts, improving merchandise sales, and leveraging new fuel pricing systems to balance profits and volume in a volatile gas market. It positioned itself to capitalize on future growth opportunities once market conditions improve.
This document is Gannett Co., Inc.'s 2005 annual report. It includes the company's financial summary for 2005, a letter to shareholders from the chairman and CEO, and information about the company's operations. The letter discusses leadership changes at Gannett in 2005, the company's financial performance for the year which saw increased revenues and operating cash flow despite challenges, and strategic acquisitions and investments made to expand Gannett's digital offerings and ability to reach audiences across multiple platforms.
- The document provides a weekly market recap for the week ending May 18, 2012. It includes headlines on events like Greece failing to form a government and unchanged FOMC guidance. Economic data like CPI and retail sales are also mentioned.
- Index levels declined over the prior week. Bond rates were largely unchanged. Commodity prices like gold and oil declined slightly.
- The author notes ongoing concerns about Europe and a potential hard landing in China, though the US economy appears stronger than China's currently. Overall US equities still appear attractive relative to valuations.
This document is the 2004 annual report of Gannett Co., Inc. It summarizes the company's strong financial performance in 2004, with record revenues of $7.4 billion, net income of $1.32 billion, and diluted earnings per share of $4.92. The CEO credits these results to the company's strategies of pursuing growth opportunities, delivering news and information across multiple platforms, and investing in people and new technologies. Challenges in 2004 included an uneven economy and restrictive media ownership regulations.
The document is the 2002 annual report for The Timken Company. It discusses how the company's ongoing transformation has positioned it for strong future growth and profitability. In 2002, the company delivered improved financial results including net income of $53.3 million, excluding restructuring charges. It also completed a major acquisition of The Torrington Company in early 2003, significantly increasing the company's size and expected to boost earnings per share by at least 10%. The acquisition supports the company's transformation into a global leader in tapered roller bearings, needle roller bearings, and alloy steels.
Commerce Bancshares reported earnings of $0.66 per share for the third quarter of 2009, up from $0.48 per share in the previous quarter. Net income increased 40% to $51.6 million compared to $37 million in the prior quarter. Total revenue grew 4% while expenses were well controlled. The company strengthened its balance sheet by increasing tangible common equity and loan loss reserves while improving its liquidity and capital positions. Total assets were $18 billion as of September 30, 2009.
omnicom group Q3 2007 Investor Presentationfinance22
Omnicom Group presented results for the third quarter of 2007. Revenue increased 11.8% to $3.1 billion compared to the third quarter of 2006. Net income rose 14.2% to $202.2 million. Acquisition spending totaled $329 million for the first nine months of 2007, and potential future earn-out obligations total $374 million if acquired agencies maintain current performance levels through 2010 and beyond.
Winn-Dixie Stores, Inc. saw disappointing financial results in 2000 with sales decreasing 3.1% from the previous year. The company underwent a major restructuring process in 2000, closing underperforming stores, consolidating operations, and eliminating over 11,000 jobs. These changes resulted in large one-time restructuring charges that contributed to a net loss for the year. However, the changes were expected to result in annual ongoing cost savings of approximately $400 million going forward to improve the company's competitive position.
Winn-Dixie Stores, Inc. filed for Chapter 11 bankruptcy protection in February 2005 and underwent a major restructuring that included closing stores in 14 markets and reducing its workforce. The CEO discusses the challenges facing the company and the steps taken to improve operations, including focusing on produce, meat, and other perishables departments. While acknowledging the company still has progress to make, the CEO expresses optimism that Winn-Dixie is improving and will earn back customers' trust through delivering better quality, service, and value.
Dole Food Company paid cash distributions of $.10 per share per quarter to shareholders in 1996. Forms 1099-Div initially reported these distributions as 100% taxable ordinary dividends. Dole has since determined that 100% of the 1996 cash distributions are non-taxable. As a result, shareholders may be entitled to a refund from the IRS and state tax authorities for taxes paid on the distributions in 1996.
Dole Food Company sent a letter to shareholders regarding tax information related to a stock dividend of Castle & Cooke, Inc. common stock. The letter notes that in addition to the stock dividend, Dole paid four quarterly cash dividends of $0.10 per share each. The first two quarterly dividends are taxable, while the last two are believed to not be taxable according to Dole's estimation.
Dole Food Company paid shareholders four quarterly cash distributions of $0.10 per share in 1997. According to the company, all four distributions were returns of capital and not taxable to shareholders. The document provides important tax information to Dole shareholders regarding 1997 cash distributions.
Winn-Dixie Stores, Inc. saw disappointing financial results in 2000 with sales decreasing 3.1% from the previous year. The company underwent a major restructuring process in 2000 that resulted in $396 million in charges to earnings. The restructuring involved closing underperforming stores, consolidating operations, and eliminating over 11,000 jobs. The changes are expected to result in annual cost savings of $400 million once fully implemented.
This document provides information about how shareholders should determine their tax basis in shares of Castle & Cooke, Inc. and Dole Food Company, Inc. following a spin-off distribution of Castle & Cooke shares. Shareholders' tax basis in the Castle shares is the $15.65 fair market value on the distribution date. Any cash received for fractional Castle shares results in short-term capital gain. Shareholders must reduce their tax basis in each Dole share by $5.22 to account for the value of the Castle shares received. The holding period for Castle shares begins on the distribution date.
This annual report summarizes the financial performance and operations of Winn-Dixie Stores, Inc. for the 1998 fiscal year. Key highlights include sales reaching $13.6 billion, a 3% increase over the previous year, with net earnings of $198.6 million. The company continued expanding its store footprint, opening 84 new stores while enlarging or remodeling another 136 locations. Winn-Dixie also invested in new distribution centers and technology to improve operations and the customer shopping experience.
Winn-Dixie is one of the largest supermarket chains in the US, operating 1,174 stores across 14 states. In 1997, Winn-Dixie saw sales increase 2% to $13.2 billion while earnings decreased 20% to $204 million due to investments in remodeling and expanding stores. The company worked to position itself for future success by improving stores and expanding services like pharmacies and banks to provide customers with a one-stop shopping experience.
This document is Bed Bath & Beyond's 2005 Annual Report, which includes their Notice of Annual Meeting and Proxy Statement. It discusses Bed Bath & Beyond's financial highlights for fiscal year 2005, including a 16.4% increase in net earnings per share compared to 2004. It encourages shareholders to vote electronically to save the company money. It also provides instructions for electronic delivery of annual reports and proxy statements to further reduce costs.
The document is Bed Bath & Beyond's 2005 annual report, notice of annual meeting, and proxy statement. It summarizes the company's strong financial performance in fiscal 2005, with record net earnings of $1.92 per share, 12.9% sales growth, and 4.6% comparable store sales growth. It also discusses returning $600 million to shareholders through a share repurchase program, and expanding the store base to 809 total stores across the Bed Bath & Beyond, Christmas Tree Shops, and Harmon brands. The report aims to present shareholders with the required annual information in a straightforward and cost-efficient manner.
Based on Buffett's comments and the table provided, an implied multiplier of approximately 12x can be derived for valuing Berkshire Hathaway based on its pre-tax operating earnings. Buffett separates Berkshire's value into the value of its investments and the value of its operating businesses, and compares this implied intrinsic value to the stock price to determine an implied multiplier. In 1997-1998, when the stock price approximated the implied intrinsic value, the implied multiplier was around 12x based on the pre-tax operating earnings. So a multiplier of 12x pre-tax operating earnings provides a framework for valuing Berkshire according to Buffett's comments.
Danaher Corporation reported financial results for the fourth quarter and full year of 2007. Net earnings for Q4 2007 were $320 million, or $0.97 per diluted share. For the full year 2007, net earnings were $1.37 billion, or $4.19 per diluted share. Sales for Q4 2007 were $3.14 billion, a 19.5% increase over Q4 2006. For the full year 2007, sales were $11.03 billion, a 16.5% increase over 2006. The company's president stated they were pleased with the record results and remain confident in their ability to deliver again in 2008 despite softness in some end markets.
This document is the 2003 Annual Report, Notice of Annual Meeting, and Proxy Statement for Bed Bath & Beyond Inc. It includes the following:
1) A letter to shareholders from the co-chairmen and CEO thanking shareholders and associates for the company's success in fiscal year 2003 and outlining plans for continued growth.
2) Selected financial data showing the company's strong growth over the past 12 years as a public company, including a 32.2% increase in net earnings in fiscal 2003.
3) Notice of the upcoming annual meeting and instructions for electronic voting and accessing annual reports online to save the company money on printing and mailing costs.
4) A management discussion and analysis section outlining
This document is the 2003 Annual Report, Notice of Annual Meeting, and Proxy Statement for Bed Bath & Beyond Inc. It includes the following:
1) A letter to shareholders from the co-chairmen and CEO thanking shareholders and associates for the company's success and growth. It highlights fiscal 2003 financial results including a 32.2% increase in net earnings.
2) Selected financial data from fiscal years 1993 to 2003 showing the company's growth over the past 12 years as a public company.
3) Information about electronic voting and delivery options for shareholders to save the company money.
4) A management discussion and analysis of the company's financial condition and results, noting a 22.2% increase
The document summarizes the financial performance of Bed Bath & Beyond for fiscal years 2003, 2002, and 2001. Some key highlights include:
- Net sales increased 25.2% in fiscal 2003 and 22.2% in fiscal 2002.
- Gross profit increased 25.8% in fiscal 2003 and 22.4% in fiscal 2002.
- Operating profit increased to 13.1% of net sales in fiscal 2003, up from 11.8% in fiscal 2002 and 11.4% in fiscal 2001.
- The company saw continued sales and profit growth over the three year period presented in the document.
This document is Bed Bath & Beyond's 2006 annual report and proxy statement. It provides financial highlights from fiscal year 2006, which ended on March 3, 2007. Some key points include:
- Net earnings for FY2006 were $2.09 per diluted share, an increase of 8.9% from the previous year.
- Net sales increased 13.9% to approximately $6.6 billion.
- Comparable store sales increased 4.9% in FY2006.
- The company opened 74 new Bed Bath & Beyond stores and ended the year with 888 stores total.
This document is Bed Bath & Beyond's 2006 annual report and proxy statement. It provides financial highlights from fiscal year 2006, which ended on March 3, 2007. Some key points include:
- Net earnings for FY2006 were $2.09 per diluted share, an increase of 8.9% from the previous year.
- Net sales increased 13.9% to approximately $6.6 billion.
- Comparable store sales increased 4.9% in FY2006.
- The company opened 74 new Bed Bath & Beyond stores and ended the year with 888 stores total.
The document is Bed Bath & Beyond's 2004 Annual Report. It includes the letter to shareholders, highlights of fiscal year 2004 results, and an overview of management's discussion and analysis. Some key points:
- Net sales increased 15% to $5.1 billion and net earnings increased 26.4% to $505 million.
- The company opened 85 new Bed Bath & Beyond stores and expanded store space by 12.1%.
- Comparable store sales increased 4.5% and the company returned $350 million to shareholders through a share repurchase program.
The document is Bed Bath & Beyond's 2004 Annual Report. It includes the letter to shareholders, highlights of fiscal year 2004 results, and an overview of management's discussion and analysis. Some key points:
- Net sales increased 15% to $5.1 billion and net earnings increased 26.4% to $505 million.
- The company opened 85 new Bed Bath & Beyond stores and expanded store space by 12.1%.
- Comparable store sales increased 4.5% and the company returned $350 million to shareholders through a share repurchase program.
Omnicom's 2002 annual report summarizes the company's financial and operating highlights for the year. Some key points include:
- Revenue increased 9% to $7.5 billion, with domestic revenue up 15% and international revenue up 3%.
- Net income increased 10% to $643 million. Earnings per share were $3.44, up from $3.13 the prior year.
- Omnicom continued its strategy of targeted acquisitions, adding around $360 million in revenue.
- The company's businesses won $4.2 billion in new business billings, outpacing competitors despite a lackluster global economy.
- Creative agencies within Omnicom
Omnicom's 2002 annual report summarizes the company's financial and operating highlights for the year. Key points include:
- Revenue increased 9% to $7.5 billion, with net income up 10% to $643 million.
- Traditional media advertising grew 9% while CRM and specialty communications grew over 14% and 17% respectively.
- Omnicom continued its strategy of targeted acquisitions, adding around $360 million in revenue.
- The company's businesses won $4.2 billion in new business, outpacing competitors despite a lackluster global economy.
- Omnicom maintained its position as the most creative agency network in the world.
1) John W. Snow resigned as Chairman and CEO of CSX Corporation to become Secretary of the Treasury under President George W. Bush.
2) CSX had a solid financial performance in 2002 despite economic challenges, with net income of $424 million, up 45% from 2001.
3) CSX continued focusing on its core rail transportation business, reaching a deal to convey its domestic container shipping business CSX Lines to a new venture for $300 million in cash and securities.
1) John W. Snow resigned as Chairman and CEO of CSX Corporation to become Secretary of the Treasury under President George W. Bush.
2) CSX had a solid financial performance in 2002 despite economic challenges, with net income of $424 million, up 45% from 2001.
3) CSX continued focusing on its core rail transportation business, reaching a deal to convey its domestic container shipping business CSX Lines to a new venture for $300 million in cash and securities.
1) This document is the 2007 Annual Report, Notice of Annual Meeting, and Proxy Statement for Bed Bath & Beyond.
2) In fiscal 2007, Bed Bath & Beyond saw net sales increase 6.5% to $7.049 billion and net earnings of $2.10 per diluted share, compared to $2.09 per share the previous year.
3) The company continued its expansion, opening 66 new Bed Bath & Beyond stores and its first international store in Canada. It also operated 41 Christmas Tree Shops stores and 9 buybuy BABY stores.
1) This document is the 2007 Annual Report, Notice of Annual Meeting, and Proxy Statement for Bed Bath & Beyond.
2) In fiscal 2007, Bed Bath & Beyond saw net sales increase 6.5% to $7.049 billion and net earnings of $2.10 per diluted share, compared to $2.09 per share the previous year.
3) The company continued its expansion, opening 66 new Bed Bath & Beyond stores and its first international store in Canada. It also invested in new distribution centers and systems to support continued growth.
Ecolab's 2005 annual report provides the following information:
1) Ecolab is the leading global provider of cleaning and sanitizing products and services, serving customers in over 160 countries.
2) In 2005, Ecolab reported net sales of $4.5 billion, a 8% increase from 2004, and net income of $319 million, a 13% increase.
3) Ecolab aims to provide comprehensive solutions and service to customers in industries like hospitality, healthcare, food processing, and commercial laundries.
Similar to winn-dixie stores 1999_Annual_Report (20)
Dole Food Company paid shareholders four quarterly cash distributions of $0.10 per share in 1998. According to the company, all four distributions were returns of capital and not taxable to shareholders. No foreign taxes were paid on the distributions.
Dole Food Company paid four quarterly cash distributions of $0.10 per share in 1999. According to the company, all four distributions will be taxable as ordinary dividends, with no foreign taxes paid. The document provides important tax information for Dole Food Company shareholders regarding their 1999 cash distributions.
Dole Food Company paid four quarterly cash distributions of $0.10 per share in 2000 totaling $0.40 per share. According to the company, all four cash distributions paid to shareholders in 2000 will be taxable as ordinary dividends, with no foreign taxes paid.
Dole Food Company paid four quarterly cash distributions of $0.10 per share in 2001 totaling $0.40 per share. According to the company, these distributions will be taxed as ordinary dividends. No foreign taxes were paid on the distributions.
Dole Food Company paid four quarterly cash distributions of $0.15 per share in 2002. According to the company, all four distributions will be taxable as ordinary dividends. No foreign taxes were paid related to these distributions.
Dole Food Company paid a quarterly cash distribution of $0.15 per share to shareholders in the first quarter of 2003. According to the company's estimate, this cash distribution will be considered a taxable ordinary dividend. The document provides important tax information to shareholders regarding Dole Food Company's 2003 cash distributions.
Dole Food Company provided information to shareholders about tax implications of the company's privatization transaction. The notice discusses that shareholders will recognize capital gains or losses for tax purposes equal to the difference between the cash received and their tax basis in the shares. Gains or losses will be long-term if the shares were held for over 12 months. Shareholders are advised to consult their own tax advisors to understand how this transaction may affect their individual tax situation.
The annual report summarizes Dole Food Company's operations and financial performance in 1995. Some key points:
- Dole successfully separated its real estate and resorts business into a new publicly-traded company, Castle & Cooke, enhancing shareholder value.
- Dole's food business saw revenue grow 14% to $3.8 billion in 1995. Operating income increased 40% to $193 million due to improved performance across banana, vegetable, and pineapple operations.
- Dole expanded its value-added salad business in Europe and entered new joint ventures and acquisitions to grow in European markets.
- Financially, Dole paid down over $700 million in debt,
Dole Food Company's annual report discusses its commitment to providing safe, high quality food products while protecting the environment. It highlights that Dole focuses on growing its core food businesses globally through expansion, joint ventures, and maximizing returns by downsizing non-profitable operations. The report also discusses Dole's efforts in nutrition education to encourage healthy lifestyles and consumption of fruits and vegetables.
This annual report summarizes Dole Food Company's financial performance in 1997. Some key points:
- Revenues grew 13% to $4.3 billion and cash flow from operations grew 10% to $372 million.
- Net income grew 23% to $160.2 million, excluding a 1996 charge. Net debt was reduced by $154 million.
- The company focused on growing its core fresh fruit and vegetable business while liquidating underperforming assets.
- Looking forward, the company aims to continue expanding globally, particularly in Asia, to take advantage of new opportunities for growth.
Dole Food Company's 1998 annual report summarizes the company's operations, financial results, and outlook. The year was challenging due to adverse weather conditions affecting production and economic crises slowing some markets. Despite these difficulties, most core businesses performed well. The report notes two special charges taken in Q4 1998 relating to damage from Hurricane Mitch in Honduras and a citrus freeze in California. It provides an overview of the company's worldwide operations, acquisitions in the flower industry, and positive outlook as business returns to normal in 1999 with the new headquarters facility nearing completion.
Dole Food Company reported strong financial results in its 1999 Annual Report. Revenue exceeded $5 billion for the first time, up 14% from 1998. Net income was $49 million, though it would have been $68 million excluding special charges. Cash flow from operations remained strong at $308 million. The company focused on its core businesses of fresh fruits, vegetables and flowers, maintaining low costs, and investing in its people. It undertook various restructuring and cost-cutting measures following challenges like hurricanes and citrus freezes. Dole entered 2000 with renewed purpose to profitably grow its brands and enhance shareholder returns.
This annual report summarizes Dole's financial performance in 2000. It shows that revenue was $4.76 billion, net income was $68 million, and diluted EPS was $1.21. Total assets were $2.845 billion. The report discusses business segment results, with fresh vegetables posting record earnings. It also notes leadership changes, including a new president and COO.
The document is Dole Food Company's 2001 annual report. It provides an overview of Dole's worldwide operations, financial highlights for 2001-1997, and a letter from the Chairman and CEO. Some key points:
- Dole has operations in over 90 countries worldwide focused on sourcing, ripening, distribution and marketing of food.
- In 2001, Dole divested its Honduran beverage business and used the proceeds to pay down debt.
- Net income for 2001 was $150 million, an increase over 2000, driven by the beverage divestiture gain and improved continuing operations performance.
- Dole focused on cost reductions in 2001 and aims to complete divestitures of non-
This annual report summarizes Dole's financial performance from 1998-2002. It shows that while revenues have remained relatively steady, income from continuing operations increased substantially in 2002 after declining in 2001. Total shareholders' equity also increased steadily over this period. The report discusses Dole's continued focus on expanding its value-added packaged foods business and improving costs. It highlights new product introductions in fruit bowls and salad blends that have contributed to revenue growth. Messages from the Chairman and President emphasize their commitment to improving health and nutrition worldwide through Dole's products and the new Dole Nutrition Institute.
The document summarizes plans for a new Dole Wellness Center, Spa and Hotel complex to be built in Westlake Village, California. The complex will include a 267-room luxury hotel, full-service spa and fitness facility, comprehensive medical clinic and diagnostic center, wellness center, and television production studio focused on health and wellness programming. The goal is to provide visitors tools and treatments to improve their health and quality of life through nutrition, fitness, and preventative healthcare. The $150 million complex is expected to open in March 2006.
- Yahoo reported financial results for Q1 2008 with total revenue of $1.8 billion, down 1% from Q4 2007. Revenue excluding traffic acquisition costs (Revenue ex-TAC) was $1.35 billion, down 4% quarter-over-quarter.
- Operating cash flow for Q1 2008 was $433 million, down 18% from Q4 2007 due to workforce realignment costs and legal fees related to Microsoft's acquisition offer.
- Free cash flow was $647 million for Q1 2008, benefiting from a one-time $350 million payment from AT&T, up from $527 million in the previous quarter.
- Yahoo reported financial results for Q1 2008 with revenues of $1.8 billion, operating income of $121 million, and operating income before depreciation, amortization, and stock-based compensation of $433 million.
- Net income was $542 million including a $401 million non-cash gain from Alibaba Group's IPO, and non-GAAP net income was $150 million.
- Cash flow from operating activities increased 81% to $786 million due to a $350 million payment from AT&T, and free cash flow increased 75% to $647 million.
- Yahoo reported Q2'08 financial highlights, with revenue ex-TAC of $1.346 billion, an 8% increase year-over-year but flat quarter-over-quarter.
- Operating cash flow was $427 million in Q2'08, a 10% decrease year-over-year due to costs related to strategic initiatives and a 1% decrease quarter-over-quarter.
- For full-year 2008, Yahoo expects revenue of $7.35-7.85 billion, operating cash flow of $1.825-1.975 billion, and free cash flow of $900 million to $1.05 billion.
Yahoo reported financial results for Q2 2008 with the following highlights:
- Revenues were $1.8 billion, up 6% year-over-year, driven by a 14% increase in marketing services revenues from owned and operated sites.
- Operating income was $101 million, down 45% due to $22 million in costs related to strategic initiatives.
- Operating cash flow (before depreciation, amortization, and stock compensation) was $427 million, down 10% year-over-year.
- Net income was $131 million, down 18% year-over-year.
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A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
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[4:55 p.m.] Bryan Oates
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Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
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Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
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Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
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winn-dixie stores 1999_Annual_Report
1. Winn-Dixie Stores, Inc. 1999 Annual Report - Cover http://ewwwhdq02/company/1999/main.htm
Winn-Dixie Stores, Inc. 1999 Annual Report
Earnings per diluted share $1.23
Taxes per diluted share $2.07
See Highlights
1 of 1 6/25/2007 10:08 AM
2. Winn-Dixie Stores, Inc. 1999 Annual Report - Special Tribute http://ewwwhdq02/company/1999/tribute.htm
Winn-Dixie Stores, Inc. A Special Tribute
James Kufeldt
It was with profoundly mixed feelings that we said farewell this past summer to our retiring President, James
Kufeldt. Our feelings are mixed because, on the one hand, we well miss his leadership and warm, friendly presence;
yet, on the other hand, we know that he richly deserves the time his retirement will give him to spend with his wife,
Anne, and their sons, Tom and Phil, daughter, Sara, and their families.
Born in Homestead, Florida, on July 15, 1938, Jim joined the Winn-Dixie family as a produce clerk in our Miami
division in September 1961. His management talent was quickly recognized, and he rose steadily in the Company,
first coming to Headquarters in 1966 as Director of Corporate Training and Work Methods. After additional
management experience with our Tampa, Orlando and Atlanta divisions, Jim returned to our corporate office in 1986
as Senior Vice President and Director of Retail Information and Planning. In 1988, Jim was named President of
Winn-Dixie Stores, Inc., Chairman of the Executive Committee and member of our Board of Directors. He has also
been a leader in the supermarket industry, serving as a Director and Vice Chairman of the Food Marketing Institute.
Business and family are only two aspects of Jim's exemplary legacy. He has also given his time and talent to the
University of North Florida, the North Florida Technology Innovation Corporation and numerous other civic and
charitable groups.
All of us who are members of the Winn-Dixie family, from the Davises to our newest associates in the 14 states and
the Bahamas in which we operate, extend to Jim and his own family our heartfelt best wishes. We respect and
admire the service and leadership he has given to our Company, and we take pride in his contributions to the
betterment of his industry, his community and his fellow human beings.
Congratulations and farewell, Jim - job well done!
A. Dano Davis
Chairman
Principal Executive Officer
1 of 1 6/25/2007 10:07 AM
3. Winn-Dixie Stores, Inc. 1999 Annual Report - Highlights http://ewwwhdq02/company/1999/highlights.htm
Winn-Dixie Stores, Inc. Highlights
June 30, June 24, Percentage June 25, June 26, June 28,
For the Fiscal Year 1998 Change 1997 1996 1995
1999
Dollars in thousands except per share data
SALES $ 14,136,503 13,617,485 + 3.8 13,218,715 12,955,488 11,787,843
Per dilluted share 91 + 4.4 88 85 79
$ 95
GROSS PROFIT $ 3,800,913 3,623,917 + 4.9 3,315,853 3,093,244 2,723,307
Percent of sales 26.6 25.1 23.9 23.1
26.9
OPERATING AND
ADMINISTRATIVE
EXPENSES $ 3,593,651 3,374,905 + 6.5 3,093,767 2,802,712 2,461,883
Percent of sales 24.8 23.4 21.6 20.9
25.4
TAXES
Federal, state and local 302,274 + 2.0 284,737 287,758 260,885
$ 308,246
2.03 1.90 1.89 1.74
Per diluted share $ 2.07
NET EARNINGS 198,620 - 8.2 204,443 255,634 232,187
$ 182,335
Per diluted share 1.33 - 7.5 1.36 1.68 1.55
$ 1.23
Percent of sales 1.5 1.5 2.0 2.0
1.3
EBITDA 676,735 - 8.6 632,757 656,857 569,256
$ 618,542
EBITDAR 985,893 - 2.5 911,634 914,882 791,500
$ 961,419
DIVIDENDS PAID ON
150,923 + 0.2 144,165 134,042 116,506
$ 151,231
COMMON STOCK
Per share
1.02 + 0.2 .96 .885 .78
$ 1.02
(present annual rate $1.02)
NET CAPITAL EXPENDITURES 369,636 - 6.5 423,105 361,961 371,563
$ 345,723
DEPRECIATION & AMORTIZATION $ 330,408 - 11.5 291,236 248,287 200,931
292,414
At Year End
Working capital 228,581 + 9.7 195,358 388,712 414,923
$ 250,666
Current ratio 1.2 to 1 1.1 to 1 1.4 to 1 1.4 to 1
1.2 to 1
1 of 2 6/25/2007 10:08 AM
4. Winn-Dixie Stores, Inc. 1999 Annual Report - Highlights http://ewwwhdq02/company/1999/highlights.htm
Shareholders' equity $ 1,411,079 1,368,883 + 3.1 1,337,494 1,342,296 1,230,592
Percent of equity to total capitalization 96.6 96.1 95.7 94.1
97.3
Total shares outstanding
148,531 148,876 151,685 151,122
148,577
(000's)
Stores in operation 1,168 + 1.7 1,174 1,178 1,175
1,188
Return on average equity (%) 14.7 15.3 19.9 20.3
13.1
At June 30, 1999, we operated 1,188
stores, of which 173 where less than
35,000 square feet, 451 were 35,000 to
45,000 square feet and 564 were more
than 45,000 square feet.
85 percent of our stores now have at
least 35,000 square feet, compared with
63 percent in 1995.
Our average square footage per store
increased to 43,700 this year, compared
to 37,300 in 1995.
2 of 2 6/25/2007 10:08 AM
5. Winn-Dixie Stores, Inc. 1999 Annual Report - Message to Shareholders http://ewwwhdq02/company/1999/message.htm
Winn-Dixie Stores, Inc. Message to our shareholders
James Kufeldt A. Dano Davis Charles H. McKellar
President Chairman Executive Vice
Principal Executive President
Officer
Consolidation and competition continue to change the supermarket industry. As the largest food retail chains grow
larger, all major operators face the challenge of attracting shoppers by providing an increasing variety of fresher
products and convenient services while operating more efficiently than ever to create value for customers and
shareholders alike.
Winn-Dixie continues to take bold steps to meet this challenge. In the past five years, we and our landlords have
invested $4 billion - an average of $800 million a year - to create the newest and nicest stores in the business. More
than 76% of our stores today are new, enlarged or remodeled within the last five years, making us an industry leader
in this category. More importantly, we achieved this without incurring long-term debt, keeping us financially strong
so that we can respond quickly and nimbly to our larger competitors.
Our sales reached a record $14.1 billion in 1999. We are determined to build on this by remaining close to our
customers and operating every one of our 1,188 stores as a friendly neighborhood supermarket with Exceptional
Customer Service.
Because of where Winn-Dixie operates, we directly compete against more Wal-Mart SuperCenters than anyone else,
over 300 of them in the 14 states we serve. One of the best things about competition generally is that it makes good
companies better. It makes a company strive even harder to improve everything it does - and we have made an
executive commitment to our customers, shareholders and associates to do just that.
We have acted boldly because we mean to succeed, just as we always have throughout our 74-year history. For
Winn-Dixie, this year meant honestly comparing our own operations with the competition, hiring outside experts to
advise us, learning from our best practices, and doing whatever it takes to give our customers not only nicer stores
but also fresher products, friendlier service, greater value, more variety, true convenience and all of the other things
that will ensure our success.
Financial Strength
Sound financial management remains a Winn-Dixie trademark. The record $14.1 billion in sales we achieved in
1999 represented our 65th consecutive annual increase, without long-term debt. Our strategy is to focus on our
strength as a Sunbelt leader providing a wide variety of quality products and services at competitive prices. That is
another reason we chose not to incur long-term debt to finance the $4 billion capital investment in store and support
facility improvements. We have built a foundation for future earnings, unencumbered by the burden of long-term
debt.
1 of 4 6/25/2007 10:08 AM
6. Winn-Dixie Stores, Inc. 1999 Annual Report - Message to Shareholders http://ewwwhdq02/company/1999/message.htm
Our earnings this year of $182.3 million are not yet where we want them to be, but they reflect where we are in our
transition. Now that we have created the best stores, we are moving ahead to generate future earnings by enhancing
all of the other aspects of our business.
Merchandising
Today's customers want more than goods on shelves and in cases. They want home meal solutions. They want
variety as well as freshness. They want seasonal sales and special promotions. They want convenience, whether
they fill a shopping cart of just stop to pick up milk and bread. They want one-stop shopping that includes general
merchandise as well as services like banking, pharmacies and one-hour photo labs.
In the business, we call meeting those needs merchandising. It means giving customers what they want, when they
want it. It means skillfully promoting what you offer, from customer-friendly advertising to attractive store displays.
In November, we promoted Roy J. Brocato, former President of Winn-Dixie Atlanta and Vice President of the
Company to the newly created position of Corporate Director of Merchandising and in January, we elected him
Senior Vice President of the Company. Roy and his team of corporate merchandisers traveled the country and
consulted with experts to identify the best merchandising techniques and practices being used.
Walk into a Winn-Dixie today and you will see the difference. We offer not only ready-to-serve, chilled or
microwaveable take-home meals, but we're also introducing meal solution areas where customers can quickly find
all the items they want for a particular full home meal, all in one place.
Throughout the store, we are enhancing our merchandising to give our customers a pleasant shopping experience
tailored to their lifestyles and busy schedules.
Produce Freshness
We also have made an executive commitment to the freshness and quality of our produce. Consumer surveys show
that this remains a key element in building and retaining a loyal customer base. As we did with our merchandising,
we also looked at our produce operations from top to bottom, hired outside experts to advise us, and took action.
To ensure the freshness and quality of our fruits and vegetables, we have increased the frequency of deliveries to our
stores by implementing new ordering procedures and updating our distribution system to eliminate delays. We also
have enhanced our training program so that our associates know the best ways to handle perishable items.
What matters most to customers is that they can visit our stores on any given day and find fresh, quality produce.
We have confidence that our customers will be able to count on this and come to know Winn-Dixie for produce
quality, as well as for quality WD Brand® beef.
Exceptional customer service
As we focused in the last few years on upgrading our stores, we may have been slow to recognize some of the recent
changes in what motivates people to provide Exceptional Customer Service. We also may not have fully appreciated
that a strong economy and low unemployment create a somewhat less experienced workforce for large employers
like us, making training even more vital.
To enhance our associate training, we consulted outside experts and went to our own stores and others to identify the
best customer service practices. WE have more than doubled our investment of time and resources in associate
training to ensure not just excellent, but Exceptional Customer Service. Our associates working in service areas
receive instructor-led certification with periodic retraining as we monitor customer service in the field. We have
charged our district managers to lead this effort. We have directly involved our experienced associates, who are
known for their own outstanding customer service, in conducting the training.
Of course, what matters most to our customers is how they are treated when they visit our stores. Do they get a
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7. Winn-Dixie Stores, Inc. 1999 Annual Report - Message to Shareholders http://ewwwhdq02/company/1999/message.htm
friendly greeting? Do our associates stop to acknowledge them no matter what other task they might be doing at the
time? Do we give customers individual attention, whether they are in the aisles looking for something or moving
through the checkout lanes? The customer response we are committed to receiving to those basic questions is an
emphatic yes.
Technology and facilities improvements
To serve over two million customers a day - and do it efficiently - requires using advanced technology and
constantly updating our manufacturing, warehousing, delivery fleet and headquarters operations. In 1999, we
continued to upgrade our systems and facilities to help our 132,000 associates better serve the shopping public.
These improvements benefit not only our retail store operations, but also the management and distribution systems
supporting them.
For example, improved marketing forecasts enable us to give customers quot;just in timequot; delivery of the items they
want from our distribution centers. By putting items on our store shelves more quickly, we ensure freshness and
reduce storage space at our stores. This keeps our costs down which, in turn, helps ensure low prices for our
customers and a better return for our shareholders.
The renovation of our retail support facility in Greenville, South Carolina, will soon be completed and we have made
progress on the enlargement of our Charlotte, North Carolina, retail support center. We also have begun
construction of larger retail support centers in Jacksonville, Florida, and Hammond, Louisiana.
When we receive goods at our warehouses today, a computer on the forklift reads the bar code on the pallet,
indicating exactly where the goods should be held for pickup and distribution to our stores. When the goods are
shipped to the store, the receiving associate at the store uses radio frequency technology to log in the items quickly
and accurately, with no paperwork required.
Our manufacturing plants also are equipped with a world class system to enable us to better monitor and control
production. We reduce costs and use only the freshest ingredients by maintaining lower inventories at our plants.
Our tracking system allows us to follow ingredients through every stage of production and helps us to maintain
consistently high quality in the items we produce.
We routinely update our fleet operations to provide timely and reliable transportation among our facilities and
stores. Today's loading methods promote easier and faster shipment and delivery. For instance, products are placed
in family groupings and put on pallets for easy retail stocking. It is not unusual for our stores to receive as many as
five, six or even seven deliveries a week now that we have our fleet operations integrated into our improved
distribution system.
At headquarters, we have finished our consolidation of offices and accounting systems and have completed the new
addition to our building. This will yield immediate savings of $3 million, as well as help us support our retail
operations with increased efficiency and faster turnaround times. Because we began our companywide Y2K
assurance early, we should have this task completed by September.
Our emphasis on advanced technology is also visible in our stores. In 140 of our stores, for example, we have added
self-checkout lanes for those customers who like this fast, easy option. In-store banks are another example of the
convenient services made possible by advanced technology. In June, we announced an agreement with Canadian
Imperial Bank of Commerce (CIBC) to provide innovative banking services to our customers beginning this fall with
a pilot program in Central Florida. Some 250 of our stores now provide in-store banking.
Thank you
We extend our appreciation to five other corporate officers who retired during fiscal year 1999. In addition to James
Kufeldt, our President, James H Childers retired in December 1998 as Vice President and Director of Grocery
Merchandising after 43 years with the Company. In June, James L. Cooper, Vice President and Director of
Manufacturing, retired after 46 years; Richard J. Ehster retired as Miami Division President and Vice President of
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8. Winn-Dixie Stores, Inc. 1999 Annual Report - Message to Shareholders http://ewwwhdq02/company/1999/message.htm
the Company after 41 years; Ray Raulerson retired as Vice President and Director of Information Systems after 39
years; and John Critchlow retired at the end of the fiscal year as President of Winn-Dixie Raleigh and Vice President
of the Company after 31 years with us. We wish all these men well and thank them for their service.
Writing our annual message brings to mind everyone in the Winn-Dixie family whose friendship, work and support
throughout the year contribute to the success of our Company, our customers, our shareholders, our suppliers and
business colleagues, and of course our associates, whose loyalty and dedication are the heart of Winn-Dixie.
We are grateful to our associates not only for what they do for our customers but also for the time and support they
volunteer to the communities in which we do business. This year, Winn-Dixie again honored hundreds of civic,
youth, service and educational organizations with Good Citizenship Awards. The recipients were saluted at
community luncheons and were given more than $12.1 million. Winn-Dixie Stores Foundation contributed over
$2.3 million to community organizations during fiscal 1999. This total included $1.0 million in associate matching
grants. Another $2.4 million in financial and in-kind contributions was donated by individual stores.
Come shop with us
In the 74 years since our founding, we have succeeded by changing with the times while still providing friendly
neighborhood service and operating on a financially sound basis. As we near the next millennium, we have made a
commitment to improve the things that have made us successful.
In the face of consolidation and intense competition in our industry, we have taken bold steps to ensure that
Winn-Dixie will strengthen its position as the supermarket of choice for millions of customers throughout our
operating area.
A. Dano Davis
Chairman
Principal Executive Officer
Charles H. McKellar
James Kufeldt
Executive Vice President
President
Good citizenship
During our annual Good Citizenship program, we presented these associates with Founders Awards as Associate
Good Citizens of the Year: Simon Williams, Atlanta; Jeff Van Doren, Charlotte; Kevin Morbach, Jacksonville;
Terry Taynton, Miami; Frank Marcinek and Sandee Olson, Midwest; Eunice McNeill, Montgomery; Thomas J.
Lewis, New Orleans; Kenneth McCann, Orlando; David Hudgins, Raleigh; Raymond Woodie, Tampa; and
Anthony Drake, Ft. Worth.
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9. Winn-Dixie Stores, Inc. 1999 Annual Report - Freshness, Quality and Va... http://ewwwhdq02/company/1999/freshness.htm
Freshness, Quality and
Winn-Dixie Stores, Inc.
Variety
As consumer demand continues to grow for produce, prepared
foods and other perishables, we're focusing even harder on
delivering the goods. After all, freshness and variety are what the
Winn-Dixie Marketplace is all about.
With that in mind, in 1999 we embarked on a new program
designed to ensure that our produce is the best in the market. We
stepped up deliveries to our stores, updated our distribution
network to eliminate delays, implemented new ordering
procedures and launched an enhanced training program to
acquaint associates with the latest ways to handle perishables at
the store level. A new advertising campaign proclaims our
produce as quot;sweeter, fresher, better than ever,quot; signaling our
confidence in this very important department.
Also in the spotlight was the Winn-Dixie Marketplace pharmacy,
an area with real growth potential in our booming markets. Our
pharmacies have become community hubs, where customers not
only fill prescriptions, but also consult with our pharmacists and
peruse our Mayo Clinic Health Information Centers for health
updates, nutrition information, even quot;lightquot; cookbooks. The key
to continued pharmacy strength is service, and that is our
emphasis as we head into the new millennium.
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10. Winn-Dixie Stores, Inc. 1999 Annual Report - Freshness, Quality and Va... http://ewwwhdq02/company/1999/freshness.htm
Service is a buzzword in every department at the Winn-Dixie
Marketplace, and increasingly, that means offering self-service
options to our busy customers. In the deli and bakery, shoppers
can pick up freshly prepared food, prepackaged to go. Also
available are party planning services and special-order platters,
dinners and cakes.
Our floral shops now offer more ready-made arrangements than
ever, as well as gift novelties, plants and seasonal flowers by the
stem
.
The Fisherman's Wharf displays the catch of the day - a stunning
variety of fish and shellfish delivered fresh from all over the
globe. Our seafood associates will gladly share cooking tips, and
we offer the option of in-store steaming, free.
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11. Winn-Dixie Stores, Inc. 1999 Annual Report - Freshness, Quality and Va... http://ewwwhdq02/company/1999/freshness.htm
Shoppers in a hurry love our meat department, where they can
pick up freshly prepared meal solutions, their favorite cuts of WD
Brand® beef and much more. There's a world of shopping
opportunities inside a Winn-Dixie Marketplace, where it's easy to
enjoy the finer things in life.
As Winn-Dixie looks ahead to our 75th anniversary, we're
reminded that the more things change, the more they stay the
same. Today's Winn-Dixie Marketplace is stocked with more
variety and more fresh foods than ever before. We offer the latest
conveniences, from in-store ATMs to full-service bank branches
to postage stamps and Western Union money orders and
transfers.
Our photo labs are state-of-the-art, providing one-hour service,
quality enlargements and photo novelties - including a beautiful
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12. Winn-Dixie Stores, Inc. 1999 Annual Report - Freshness, Quality and Va... http://ewwwhdq02/company/1999/freshness.htm
selection of frames. The impact is far different from the corner
grocery store that started it all, almost three-quarters of a century
ago. But what hasn't changed is our commitment to bringing
shoppers the freshest of everything, the biggest variety possible,
and above all, a standard of excellence backed by a 100 percent
satisfaction guarantee that applies to everything we sell, from
national brands to our own qualityproducts.
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13. Winn-Dixie Stores, Inc. 1999 Annual Report - Financial Review http://ewwwhdq02/company/1999/financial.htm
Winn-Dixie Stores, Inc. Financial review
Results of operations
Fiscal 1999 was the sixty-fifth consecutive year of sales increases. Sales for 1999, a 53-week year, totaled $14.1
billion, a 3.8% increase over 1998, a 52-weak year. The Company experienced a 0.9% decrease in identical stores
sales in 1999, as compared to a decrease of 0.3% in 1998. sales for the 13-week fourth quarter of 1999 were $3.5
billion, a $227.9 million increase over the comparable 12-week quarter last year. These results reflect the
repositioning of our retail store base and the increased competitive activity in our operating area.
During 1999, our Company opened and acquired 79 additional stores averaging 51,100 square feet and closed 59
smaller and older stores averaging 33,600 square feet. We also enlarged or remodeled 64 store locations. On June
30, 1999, we operated 1,188 stores averaging 43,700 square feet, as compared to 1,168 stores averaging 42,200
square feet in 1998, and 1,174 stores averaging 40,700 square feet in 1997. Total retail store square footage has
increased from 47.8 million in 1997 to 49.6 million in 1998, to 52.0 million in 1999.
Our marketing strategy is one-stop shopping with more choices and low prices while providing Exceptional
Customer Service. During 1999, our gross profit dollars increased $177.0 million to $3.8 billion, and our gross
profit margin increased from 26.6% in 1998 to 26.9% in 1999. Operating margins improved with an increase in the
number of larger stores, added service departments and improved pricing.
Approximately 86% of our inventories are valued under the LIFO (Last-In, First-Out) method. Our LIFO valuations
of inventories resulted in a decrease in gross profit of $4.4 million, as compared to an increase of $12.1 million in
1998. In 1998, our Company experienced a deflation in product costs.
Our expenses were impacted by increased training costs associated with our emphasis toward increased customer
service, occupancy costs and our quot;While you're at The Marketplacequot; marketing campaign. Operating and
administrative expenses, as a percent of sales, were 25.4% and 24.8% in fiscal 1999 and 1998, respectively. During
fiscal 1999, the Company increased the estimated useful lives used to compute depreciation for certain assets. Store
equipment and lease-holds associated with larger, full-service store formats are expected to have a longer life
because of the types of equipment and the expected timing of store remodels. In addition, the change resulted in
useful lives more consistent with the predominant industry practices for these types of assets.
In 1998, the Company began its consolidation of the accounting departments to corporate headquarters. The opening
of the new distribution facility in Raleigh, North Carolina, resulted in the closing and the sale of the older Raleigh
distribution facility; the closing of the Greenville, South Carolina distribution center, which is being converted into a
general merchandise and pharmaceutical distribution center, and the reorganization of the Raleigh and Charlotte
divisions. The Company experienced a nonrecurring administrative charge totaling $18.1 million due to these
activities.
Cash discounts and other income totaled $118.9 million in 1999 and $115.4 million in 1998.
Interest expense, which consists primarily of a computation of interest on capital lease obligations and from
short-term borrowings, totaled $29.6 million in 1999, as compared to $28.5 million in 1998. The increase in interest
expense reflects an increase in short-term borrowings.
Earnings before income taxes decreased from $317.8 million in 1998 to $296.5 million in 1999. The decrease in
pre-tax earnings is primarily a result of the increase in operating expenses as previously mentioned.
Income tax expense decreased from $119.2 million in 1998 to $114.1 million in 1999, reflecting a decrease in
pre-tax earnings. The effective income tax rate increased from 37.5% in 1998 to 38.5% in 1999. The effective tax
rate for 1998 reflects a change made by the Health Insurance Portability and Accountability Act of 1996, whereby
certain deductions for interest relating to indebtedness with respect to certain corporate-owned life insurance (COLI)
policies are being phased out over a three-year period.
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14. Winn-Dixie Stores, Inc. 1999 Annual Report - Financial Review http://ewwwhdq02/company/1999/financial.htm
Net income for 1999 totaled $182.3 million, as compared to $198.6 million in 1998, an 8.2% decrease. Diluted
earnings per share totaled $1.23 in 1999, as compared to $1.33 in 1998, a decrease of $0.10 per share.
Our Company experienced a relatively low inflation rate in 1999 and deflation in 1998. The computation resulted in
a decrease in net earnings of $2.7 million, or $0.02 per diluted share, in 1999, as compared to an increase in net
earnings of $7.4 million, or $0.05 per diluted share, in 1998.
The Company's goal of a 20.0% return on average equity was not attained in 1999 or 1998. Our return on average
equity was 13.1% in 1999 and 14.7% in 1998. For the past 5 years, our return on average equity has averaged 16.7%
Liquidity and capital resources
The Company's financial condition remains sound and strong at year end. Excluding obligations under capital
leases, we have no financial long-term debt. Shareholders' equity increased from 96.6% in 1998 to 97.3% in 1999.
Cash and equivalents increased from $23.6 million in 1998 to $24.7 million in 1999. Cash provided by operating
activities amounted to $436.4 million in 1999 and $464.5 million in 1998.
Capital expenditures totaled $345.7 million, a $23.9 million decrease from 1998. This decrease is attributable to a
reduction in the number of stores opened, enlarged or remodeled. When considering the capital investment of our
landlords for leased premises, the capital investment in 1999 relating to facilities operated by our Company is
estimated to be $550.0 million. There are no material construction or purchase commitments outstanding as of June
30, 1999.
Since the timing of cash inflows and outflows is not always the same, the Company has authorized a $500.0 million
Commercial Paper Program. In support of this program, or as an independent source of short-term funds, the
Company also has available $492.0 million in short-term bank lines of credit, which are renewable on an annual
basis. These immediately available financing programs can be used for any general corporate purpose. On June 30,
1999, $465.0 million was outstanding under these credit facilities, as compared to $420.0 million on June 24, 1998.
The Company believes that both its short-term and long-term capital needs will be sufficiently provided through the
cash flow generated by its normal business operations and its available credit facilities. The Company continually
evaluates its strategy to provide for its short-term and long-term borrowing needs.
Cautionary statement regarding forward looking information and statements
This Annual Report contains certain information that constitutes quot;forward-looking statementsquot; within the meaning of
the Private Securities Litigation Reform Act, which involves risks and uncertainties. Actual results may differ
materially from the results described in the forward-looking statements. When used in this document, the words,
quot;estimate,quot; quot;project,quot; quot;intend,quot; quot;believe,quot; and other similar expressions, as they relate to the Company, are intended
to identify such forward-looking statements. Such statements reflect the current views of the Company and are
subject to certain risks and uncertainties that include, but are not limited to, growth, competition, inflation, pricing
and margin pressures, law and taxes. Please refer to discussions of these and other factors in this Annual Report and
other Company filings with the Securities and Exchange Commission. The Company disclaims any intent or
obligation to update publicly these forward-looking statements, whether as a result of new information, future events
or otherwise.
Consolidated statement of earnings
Years Ended June 30, 1999 and June 24, 1998 1998
1999*
Amounts in thousands except per share data
Net sales 13,617,485
$ 14,136,503
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15. Winn-Dixie Stores, Inc. 1999 Annual Report - Financial Review http://ewwwhdq02/company/1999/financial.htm
Cost of sales, including warehousing and delivery expenses 9,993,568
10,335,590
Gross profit on sales 3,623,917
3,880,913
Operating and administrative expenses 3,374,905
3,593,651
Consolidation and distribution facility closing charge 18,080
-
Operating income 230,932
207,262
Cash discounts and other income, net 115,395
118,866
346,327
326,128
Interest Expense 28,535
29,648
Earnings before income taxes 317,792
296,480
Income taxes 119,172
114,145
Net earnings 198,620
$ 182,335
Basic earnings per share 1.34
$ 1.23
Diluted earnings per share 1.33
$ 1.23
*53 weeks
Consolidated balance sheets
June 30, 1999 and June 24, 1998
1998
Assets 1999
Current assets: Amounts in thousands
Cash and cash equivalents 23,566
$ 24,746
Trade and other receivables, net 146,166
188,314
Merchandise inventories at lower of cost or market less
LIFO reserve of $217,274,000 ($212,869,000 in 1998) 1,404,917
1,425,098
Prepaid expenses 161,141
159,832
Total current Assets 1,735,790
1,797,990
Investments and other assets 140,450
128,524
Deferred income taxes 22,626
-
Net property, plant and equipment 1,169,848
1,222,633
3,068,714
3,149,147
Liabilities and Shareholders' Equity
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16. Winn-Dixie Stores, Inc. 1999 Annual Report - Financial Review http://ewwwhdq02/company/1999/financial.htm
Current liabilities 1,507,209
$ 1,547,324
Obligations under capital leases 48,580
38,493
Defined benefit plan 37,102
41,234
Reserve for insurance claims and self-insurance 93,514
92,256
Other liabilities 13,426
18,761
Shareholders' equity 1,368,883
1,411,079
3,068,714
$ 3,149,147
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17. Winn-Dixie Stores, Inc. 1999 Annual Report - Board of Directors http://ewwwhdq02/company/1999/board.htm
Winn-Dixie Stores, Inc. Board of Directors
A. Dano Davis Charles H. McKellar
Chairman and Principal Executive Officer + Executive Vice President
Robert D. Davis David F. Miller
Chairman, DDI, Inc. + Private Investor *
Armando M. Codina Julia B. North
Chairman, Codina Group, Inc * - Telecommunications Consultant * -
Carelton T. Rider
T. Wayne Davis
Senior Administrator
Chairman, Transit Group, Inc. +
Mayo Foundation * -
Charles P. Stephens
James Kufeldt
Vice President
President
Norman W. Paschall Co., Inc. + *
Radford D. Lovett
Chairman, Commodores Point
Terminal Corporation + * -
* Audit Committee
+ Nominating Committee
- Compensation Committee
(1) Robert D. Davis, (2) A. Dano Davis,
(3) T. Wayne Davis,(4) James Kufeldt,
(5) Julia B. North, (6) Carleton T. Rider,
(7) Radford D. Lovett, (8) Charles P. Stephens,
(9) Charles H. McKellar, (10) Armando M. Codina,
(11) David F. Miller
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18. Winn-Dixie Stores, Inc. 1999 Annual Report - Management http://ewwwhdq02/company/1999/management.htm
Winn-Dixie Stores, Inc. Management
Executive Committee
A. Dano Davis, 54, 31 R. A. Savin, 56, 38
Chairman Senior Vice President
Principal Executive Officer Regional Director of
Tampa, Miami, Fort Worth
James Kufeldt, 60, 38 and Midwest Divisions
President
C. E. Winge, 54, 36
Chairman of Executive Committee
Senior Vice President
Charles H. McKellar, 61, 42 Regional Director of
Executive Vice President Jacksonville, Charlotte, Raleigh
and Bahama Divisions
R. J. Brocato, 55, 35
Senior Vice President L. H. May, 54, 34
Director of Corporate Merchandising Vice President
Director of Associate Relations and
H. E. Hess, 59, 41 Human Resources
Senior Vice President
Regional Director of R. P. McCook, 46, 15
Atlanta, Orlando, Montgomery Financial Vice President
and New Orleans Divisions Principal Financial Officer
E. E. Zahra, Jr., 52, 4
Vice President
General Counsel
Division presidents and
corporate vice presidents
W. C. Calkins, 60, 40 H. E. Miller, 67, 43
President, Jacksonville Division President, Montgomery Division
100 Stores 130 Stores
J. W. Critchlow, 52, 31 L. J. Sadlowski, 58, 42
President, Raleigh Division President, Fort Worth Division
125 Stores 73 Stores
R. J. Ehster, 58, 41 J. A. Schlosser, 50, 32
President, Miami Division President, Midwest Division
125 Stores 83 Stores
J. D. Fitzgerald, 49, 28 M. A. Sellers, 45, 26
President, Charlotte Division President, Tampa Division
137 Stores 113 Stores
D. G. Lafever, 50, 32 J. T. White, 51, 31
President, Orlando Division President, Atlanta Division
85 Stores 94 Stores
R. C. Lunn, Jr., 47, 30
President, New Orleans Division
85 Stores
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19. Winn-Dixie Stores, Inc. 1999 Annual Report - Management http://ewwwhdq02/company/1999/management.htm
Corporate Officers
B. C. Baxter, 53, 33 D. J. Ledford, 63, 46
Vice President Vice President
Director of Marketing Director of Meat Merchandising
D. H. Bragin, 55, 38 T. M. Moon, 49, 31
Treasurer Vice President
Principal Accounting Officer Director of Deli/Bakery Merchandising
W. F. Brim, 63, 46 P. H. Payment, Jr., 44, 28
Vice President Director of Grocery Merchandising
Director of Seafood Merchandising
C. R. Raulerson, 56, 39
G. E. Clerc, Jr., 64, 38 Vice President
Vice President Director of Information Systems
Director of Public Relations
D. J. Richardson, 49, 33
J. L. Cooper, 65, 46 Vice President
Vice President Director of Produce and Floral Operations
Director of Manufacturing
W. H. Sutton, 52, 28
J. W. Dixon, 57, 35 Vice President
Secretary Director of General Merchandise
C. W. Doolittle, 47, 16 A. C. Webb, 58, 39
Vice President Vice President
Director of Security Director of Services
R. L. Hutton, 47, 32
Vice President
Director of Government Relations
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20. Winn-Dixie Stores, Inc. 1999 Annual Report - Shareholder Information http://ewwwhdq02/company/1999/shareholders.htm
Winn-Dixie Stores, Inc. Shareholder information
Business Description
Winn-Dixie is one of the nation's largest retail food chains, with more than 132,000 associates, dedicated to
providing our customers with the best quality, variety and service. As of June 30, 1999, the Company operated 1,188
supermarkets in 14 states and in the Bahama Islands. The Company also operated a network of distribution centers,
processing and manufacturing plants and a fleet of trucks, providing a comprehensive support system.
Shareholder communications
Please address any inquiries or comments to:
First Chicago Trust Company of New York
Transfer Agent and Registrar
Winn-Dixie Stores, Inc.
P. O. Box 2500
Jersey City, New Jersey 07303-2500
Toll-Free Number: (1-888-U-CALL-WD
(1-888-822-5593)
For Hearing Impaired: (1-201-222-4955
E-mail Address: (fctc@em.fcnbd.com
Internet Address: (http://www.fctc.com
or
Shareholder Relations
Winn-Dixie Stores, Inc.
P. O. Box B
Jacksonville, Florida 32203-0297
The Company's annual report to the Securities and Exchange Commission on form 10-K may be obtained by any
shareholder, free of charge, upon written request to the Company or can be retrieved through the Company's website.
Stock market listing
New York Stock Exchange
Symbol: WIN
Annual shareholders' meeting
You are cordially invited to attend the meeting to be held Wednesday, October 6, 1999, 9:00 a.m., at the
headquarters office of the Company at 5050 Edgewood Court, Jacksonville, Florida.
Formal notice of the meeting, a proxy and proxy statement are being mailed to shareholders who are of record as of
the close of business on July 30, 1999.
Corporate headquarters
Winn-Dixie Stores, Inc.
P. O. Box B
Jacksonville, Florida 32203-0297
Internet Address: http://www.winndixie.com
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21. Winn-Dixie Stores, Inc. 1999 Annual Report - Shareholder Information http://ewwwhdq02/company/1999/shareholders.htm
Transfer agent and registrar
First Chicago Trust Company of New York
P. O. Box 2500
Jersey City, New Jersey 07303-2500
Divident reinvestment
The Company's Dividend Reinvestment Plan allows our shareholders who own at least 10 shares of record to
reinvest dividends on Winn-Dixie common stock automatically, without service charges or brokerage fees.
Participating shareholders may also supplement the amount invested with voluntary cash investments on the same
cost-free basis. Approximately 64% of the Company's shareholders participate in the Dividend Reinvestment Plan.
More information may be obtained by contacting First Chicago Trust Company of New York.
Direct deposit
The Company offers direct deposit of dividends to our shareholders. More information may be obtained by
contacting First Chicago Trust Company of New York.
Operating area
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