Winn-Dixie Stores Inc. says it will close 30 of its under-performing stores and cut more than 120 jobs to cope with weak sales.
The company said the difficult economic and retail environment have hurt its sales. As a result, it will close certain stores and an unspecified number of employees at those sites.
In addition, Winn-Dixie will cut 120 corporate and field support staff and consolidate its four operating regions into three.
Winn-Dixie plans to save $12 to $17 million annually as a result, starting in the first quarter. The company said it will disclose which stores will be closed on its website Thursday.
The grocery chain also reaffirmed its guidance for the 2010 fiscal year, saying it would be able to meet its goals through cost controls and management of promotions, despite deteriorating sales.
A listing of the 30 store locations to be closed will be available on the company's website beginning July 29.
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