Top Performer for Fri: Winn-Dixie (WINN)

Winn-Dixie Stores, Inc. (WINN - Snapshot Report) will report its fiscal fourth-quarter results on Monday, Aug 24.

Earnings estimates for that quarter, as well as for last fiscal year and this fiscal year, have advanced over the past month. The higher revisions can be traced back to late July, when the company raised its fiscal 2009 guidance.

Shares of WINN are up approximately 4% Friday afternoon, which makes this food retailer a top-performing Zacks #1 Rank stock. Volume is at 359,000 shares, which is above the daily average of 257,000.

WINN is part of the retail-supermarkets industry, as is Whole Foods Market, Inc. (WMFI). They are both on today's Zacks #1 Rank List, which includes 230 stocks.

Fiscal 2009 Guidance Raised

WINN offered a bullish assessment of its fiscal 2009 on Jul 21. On that date, the company raised its adjusted EBITDA guidance to approximately $164 million, compared to its previous range of $145 million to $152 million.

The company attributed the boost to higher gross profit margin in the fourth quarter and a reduction in its estimated annual LIFO charge.

WINN also offered an adjusted EBITDA guidance of between $170 million and $180 million for fiscal 2010.

"We are improving our competitive position through our store remodel program, executing targeted merchandising and marketing activities, and providing better customer service throughout the chain," said Chairman/CEO/President Peter Lynch. "In addition, we remain focused on managing our cost structure while maximizing the impact of our capital investments."

Earnings Estimates

For the fiscal year that ended June 2009, the Zacks Consensus Estimate is at 32 cents, which is up 14.3% over the past month.

The Zacks Consensus Estimate for the year ending June 2010 has also improved over the past month, up 12.8% to 44 cents. That marks year-over-year profit growth of 37.5%.

For its fiscal fourth quarter, the Zacks Consensus Estimate is at 18 cents per share. A month ago, it was at a penny per share, marking a gain of 1700%. In its fiscal third quarter, WINN announced earnings per share of 31 cents, which beat the Zacks Consensus Estimate by nearly 160%. It marked the company's third straight positive quarterly surprise.