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Roundy’s, Inc. Reports Second Quarter 2012 Financial Results

Year-to-Date Financial Results

Net sales were $1,935.1 million for the twenty-six weeks ended June 30, 2012, an increase of $38.7 million, or 2.0% from $1,896.4 million for the twenty-six weeks ended July 2, 2011. The increase primarily reflects the impact of new stores, partially offset by a 2.7% decrease in same-store sales. The same-store sales decrease was due to a 2.0% decrease in the number of customer transactions and 0.7% decrease in the average transaction size. The Company’s same-store sales were negatively impacted by the effect of competitive store openings during the last twelve months as well as a more challenging economic and competitive environment. Same-store sales were also affected by calendar shifts, including the New Year’s holiday, which is traditionally a slow sales day and fell in the first quarter of 2012 and the July 4 th holiday, which shifted more sales into the third quarter this year.

For the twenty-six weeks ended June 30, 2012 net income was $21.2 million, or $0.51 diluted earnings per common share, compared to $26.5 million, or $0.87 diluted earnings per common share, for the twenty-six weeks ended July 2, 2011. Adjusted net income for the twenty-six weeks ended June 30, 2012 was $29.5 million, or $0.71 diluted earnings per common share, compared with $26.5 million, or $0.87 diluted earnings per common share for the twenty-six weeks ended July 2, 2011. Adjusted net income for the current year-to-date period excludes an $8.4 million after-tax charge, or $0.20 per diluted common share, for the early extinguishment of debt and one-time IPO expenses that occurred during the first quarter 2012.

Adjusted EBITDA for the twenty-six weeks ended June 30, 2012 and July 2, 2011 was $109.0 million and $116.1 million, respectively.

Fiscal 2012 Guidance

The Company updated its guidance for fiscal 2012. The following table provides information on the Company’s current estimated 2012 results:
Sales growth   1.0% to 2.0%
Same-store sales growth (3.0%) to (2.0%)
Adjusted EBITDA $200 to $210 million
Adjusted EBITDA Margin 5.1% to 5.4%
Interest Expense (1) $50.5 to $51.5 million
Income Tax Rate 39.5% to 40.0%
Capital Expenditures $65 to $70 million

New Store Openings
Replacement Store Openings 2
Weighted Average Diluted Common Shares Outstanding (2) 43.4 million
Earnings per Share
Fully Diluted $0.91 to $1.05
Excluding One-Time Transactional Costs (3) $1.10 to $1.24


Includes non-cash interest of approximately $2.5 million and $1.3 million related to amortization of deferred financing fees and original issue discount, respectively.


Represents the weighted average diluted common shares outstanding for the full year, consisting of 38.6 million shares in the first quarter, 45.0 million shares in the second and third quarters and 45.1 million shares in the fourth quarter.


Presented to exclude expenses of approximately $13.8 million ($8.4 million, or $0.19 per share (based on estimated weighted average diluted common shares outstanding for the full year), net of income tax expense) incurred in connection with the debt refinancing and IPO in February 2012.

Conference Call

The Company will host a conference call and audio webcast today, August 9, 2012 at 4:30 p.m. ET (3:30p.m. CT) to discuss financial results for the second quarter fiscal 2012. To access the conference call, participants should dial (888) 790-3727; passcode is 5627188. Participants are encouraged to dial in to the conference call ten minutes prior to the scheduled start time. The call will be also broadcast live over the Internet and accessible through the Investor Relations section of the Company’s website at, where it will be archived and accessible through August 23, 2012. A telephone replay will be available through August 23, 2012 by calling (866) 351-5764 to access the playback.

About Roundy’s

Roundy’s is a leading grocer in the Midwest with nearly $4.0 billion in sales and more than 18,000 employees. Founded in Milwaukee in 1872, Roundy’s operates 159 retail grocery stores and 98 pharmacies under the Pick ’n Save, Rainbow, Copps, Metro Market and Mariano’s Fresh Market retail banners in Wisconsin, Minnesota and Illinois.

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