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.”