Roundy's reports $8.6 million profit in first quarter


Special to The Freeman

May 9, 2013

 
MILWAUKEE – Roundy’s Inc., started the first quarter of fiscal 2013 with positive earnings.

The Milwaukee-based grocer reported net sales of $983.5 million in the first quarter, an increase of 4.8 percent. The company’s net income was $8.6 million, or $0.19 adjusted diluted net earnings per common share, compared to $10.6 million, or $0.28 adjusted diluted net earning per common share in the prior year quarter, according to a company statement.

“We are pleased with our ability to continue to realize improvements in both sales and volume through our focus on customer-centric initiatives, despite experiencing additional competitive openings and increased promotional activity in our core markets,” said Robert Mariano, chairman, president and chief executive officer of Roundy’s. “In the first quarter, we further integrated new service, product and merchandising concepts into our group of 14 test stores in the Milwaukee area. Our early improvements in key operating and financial metrics across these stores give us increased confidence to begin a roll-out to additional Milwaukee area stores over the remainder of this year.”