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

The Company paid a dividend of $0.23 per share on all outstanding shares of its common stock during the third quarter. Due to the continued challenging economic and competitive environment, the Company’s Board of Directors has decided to reduce the Company’s quarterly cash dividend to $0.12 per share of outstanding common stock, for an annual rate of $0.48 per share. This decision is consistent with the Company’s objective to utilize its capital to maintain a strong and flexible balance sheet. The quarterly cash dividend of $0.12 per share of outstanding common stock will be paid on November 26, 2012 to stockholders of record as of November 19, 2012.

Year-to-Date Financial Results

Net sales were $2,908.7 million for the thirty-nine weeks ended September 29, 2012, an increase of $35.4 million, or 1.2% from $2,873.3 million for the thirty-nine weeks ended October 1, 2011. The increase primarily reflects the impact of new stores, partially offset by a 3.0% decrease in same-store sales. The decline in same-store sales was due to a 2.3% 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 and the performance of certain promotional programs, as well as a more challenging economic and competitive environment. Same-store sales were also affected by the calendar shift of the New Year’s holiday, which is traditionally a slow sales day and fell in the first quarter of 2012.

For the thirty-nine weeks ended September 29, 2012 adjusted net income was $38.3 million, or $0.89 diluted earnings per common share, compared with $38.9 million, or $1.28 diluted earnings per common share for the thirty-nine weeks ended October 1, 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 as well as the one-time employee expenses of $0.8 million, or $0.02 per diluted common share that occurred during the third quarter 2012 Net income for the thirty-nine weeks ended September 29, 2012 was $29.1 million, or $0.68 diluted earnings per common share.

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