Southeastern Grocers has postponed an initial public offering just a week after its launch.
Jacksonville, Fla.-based Southeastern Grocers, the parent company of Winn-Dixie, announced the move Thursday evening but didn’t give a reason for putting off the IPO. The retailer couldn’t immediately be reached for comment.
“The company will continue to evaluate the timing for the proposed offering as market conditions develop,” Southeastern Grocers stated.
Under the IPO announced Jan. 21, Southeastern Grocers’s selling stockholders planned to offer 8.9 million common stock shares at $14 to $16 per share and grant the underwriters a 30-day option to buy up to another 1.335 million common shares, with the potential to raise up to $163.76 million. Citing an anonymous source, Reuters reported that the company saw lackluster interest in its shares at that price range.
Friday s Afternoon Update | 1/29/2021
In Florida, a drop in coronavirus cases, hospitalizations
For the first time since early October, Florida has shown meaningful improvement in the struggle against the coronavirus pandemic. The trend, a real sign of hope, mirrors what has happened in most of the United States. Across Florida, the number of people currently hospitalized with COVID-19 is less than 7,000. While that’s much higher than throughout most of the past year, it’s down from nearly 8,000 earlier in January. High daily case numbers persist, but after a winter peak about two weeks ago, those have fallen as well. More from the Tampa Bay Times.
In its heyday, Winn-Dixie Stores Inc. would brag about its dividends.
The Jacksonville-based supermarket chain paid cash dividends on its common stock on a monthly basis, a unique policy that attracted many small investors to the stock.
Winn-Dixie boasted that it set a New York Stock Exchange record by increasing its dividend payments for 54 consecutive years.
However, that changed when the company’s finances sagged in the late 1990s. After holding its dividend payments steady starting in 1998, it slashed the dividends sharply in 2001 and eliminated them altogether in 2004, a year before it started a Chapter 11 bankruptcy reorganization that wiped out shareholders completely.
Wicker (left) started his career serving customers and later advanced to meat clerk, produce manager and store manager positions. He also held store support roles in loss prevention and labor management and as regional fresh foods manager, category manager for fresh meat, district manager, director of store operations and director of meat and seafood.
Most of Wicker’s career more than 26 years was spent at Greenville, S.C.-based Bi-Lo, which merged with Winn-Dixie Stores in March 2012 to become Bi-Lo Holding and then later combined with Harveys and Fresco y Más to form Southeastern Grocers in September 2013. Before becoming senior vice president of fresh merchandising at Southeastern Grocers, he served as regional vice president for Harveys and, prior to that, as director of store operations for Bi-Lo.
Ken Wicker
Festival Foods will welcome Ken Wicker to its senior leadership team on Feb. 8 as SVP of fresh foods. Wicker spent 30 years with Southeastern Grocers, the parent company of Bi-Lo, Fresco y Más, Harveys Supermarket, and Winn-Dixie grocery stores. Most recently, he was SVP of fresh foods for Southeastern, and he also worked for four years as regional VP of Harvey’s Supermarket, a subsidiary of Southeastern.
“Ken brings great passion to fresh foods, and we are excited about his vast experience in other areas of grocery leadership,” said Randy Munns, Festival Foods’ EVP and COO.
Wicker started his career serving customers, working as a meat clerk, produce manager and store manager. He later held store support roles in loss prevention and labor management, and as regional fresh foods manager, category manager fresh meat, district manager, director of store operations, and director of meat and seafood.