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MILWAUKEE – Roundy’s Inc. on Thursday reported its net sales for
the third quarter increased 1.1 percent to $984.2 million, as
same-store sales fell 3.7 percent and net income fell sharply.
Milwaukee-based Roundy’s said net income for the third quarter
ended Sept. 28 was $3.8 million, or 8 cents a share, compared to
net income of $7.9 million, or 18 cents a share, for the third
quarter of 2012.
Net sales for the third quarter were $984.2 million, which was
an increase of $10.6 million, or 1.1 percent, from $973.6
million for the year-ago period.
"During the third quarter, our core market stores continued to
be impacted by the effects of both competitive square footage
growth over the last four quarters and the weak economy," said
Robert Mariano, chairman, president and chief executive officer.
"In addition, we incurred an unusual amount of incremental
marketing and advertising expenses associated with our Milwaukee
Renewal effort and higher promotional activity."
The company’s outlook for 2014 is positive, according to a
company statement.
"Our sales cadence improved throughout the third quarter, and
this has continued into the fourth quarter," he said. "These
results give us confidence that our customer centric initiatives
are resonating with consumers and we believe we are making the
right long term decisions in order for us to stabilize our core
markets and position us more positively heading into 2014."
Roundy’s has more than 20,000 employees and operates 163 retail
grocery stores and 100 pharmacies in Wisconsin, Minnesota and
Illinois. |
