MONDAY November 30, 2020
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Daily Record JACKSONVILLE
SOUTHEASTERN GROCERS
Winn-Dixie parent reports 16% Daily Record boost in third-quarter comp sales $25 million JACKSONVILLE
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Stein Mart closed all of its stores as of Oct 26.
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loss for Stein Mart in October
The Jacksonville fashion retailer closed its stores after filing for Chapter 11 bankruptcy protection. BY MARK BASCH CONTRIBUTING WRITER
Provided by Southeastern Grocers
Southeastern Grocers opened its new Winn-Dixie store at 11700 San Jose Blvd. in the Mandarin South Shopping Center on Nov. 11.
The Jacksonvillebased company said its net profit rose to $235 million in the first nine months after a 2019 loss of $116 million.
BY MARK BASCH CONTRIBUTING WRITER
Southeastern Grocers Inc. continued to have big sales increases in the third quarter, according to an updated registration statement for its pending initial public offering. The Jacksonville-based parent company of Winn-Dixie and three other supermarket chains said in the Nov. 20 filing that com-
parable-store sales (sales at stores open for more than one year) jumped 16.2% in the third quarter. That’s down from a 21% gain in the second quarter but still a big increase, as grocery stores benefit from consumers eating more at home during the COVID-19 pandemic. Southeastern Grocers didn’t provide more SEE PROFITS, PAGE 2
After recording profits in its first two months in bankruptcy, Stein Mart Inc. reported a net loss in October as the company closed its stores. The Jacksonville-based fashion retailer had a net loss of $25.5 million on sales of $51.9 million in the period from Oct. 4 to Oct. 31, according to a monthly operating report filed in U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division. Stein Mart filed for Chapter 11 bankruptcy Aug. 12 with plans to close its 281 stores. During its going-out-of-business sales, the company had net income of $20.6 million and sales of $95.8 million for the period between Aug. 12 and Aug. 29. It followed with a profit of $3.9 million on sales of $99 million for the period from Aug. 30 to Oct. 3. Stein Mart closed the last of its stores Oct. 26. The monthly operating report filed Nov. 20 shows Stein Mart had $573.5 million in sales for the fiscal year and a net loss of $126.6 million. MBASCH@ JAXDAILYRECORD.COM
Westland Park apartments sold for $57.7 million CBRE announced Nov. 23 it brokered the sale of the Westland Park apartments in Southwest Jacksonville for $57.7 million. The 405-unit apartment community is at 6710 Collins Road near Interstate 295. It comprises a mix of one-, two- and three-bedroom units, according to a news release. CBRE Senior Vice President Cliff Taylor and Vice President Joe Ayers represented the seller, a fund managed by New York-based DRA Advisors, in the transaction. California-based Bridge Acquisitions is the buyer.
VOLUME 108, NO. 10 • ONE SECTION