This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Roundy’s, Inc. Reports First Quarter 2014 Financial Results

Stocks in this article: RNDY

Roundy’s, Inc. (“Roundy’s”) (NYSE: RNDY), a leading grocer in the Midwest, today reported financial results for the first quarter ended March 29, 2014.

Q1 2014 1

  • Net sales increased 1.9% to $1,002.2 million
  • Net loss was $4.5 million, or $0.10 net loss per diluted common share, compared to net income of $8.6 million, or $0.19 diluted net earnings per common share
  • Adjusted net income 2 was $0.5 million, or $0.01 adjusted diluted net earnings per common share 2, compared to $8.6 million, or $0.19 adjusted diluted net earnings per common share 2
  • Adjusted EBITDA 2 was $34.1 million compared to $44.0 million

“The first quarter was very active for our growth banner, Mariano’s, with the opening of 5 new stores. We continue to be pleased with Mariano’s very strong customer and community acceptance as well as the banner’s performance to-date,” said Robert A. Mariano, chairman, president and chief executive officer of Roundy’s. “Four of these openings were former Dominick’s stores and we opened an organic location in Lake Zurich, IL. In April, we opened two more stores, and one yesterday in the city of Chicago, bringing the number of Mariano’s stores to 21. We are on schedule with the remaining 8 acquired and organic openings this year.”

Mr. Mariano concluded, “During the first quarter of 2014, we continued to see softness in our core markets. Competitive pressure, weak economic growth and weather related issues affected our core markets in the quarter. Despite difficult same-store sales comparisons in the first quarter, we remain steadfast with our Milwaukee market renewal initiatives as we continue to implement strategic changes in select core markets.”

1 All comparisons are to the thirteen weeks ended March 30, 2013.

2 Adjusted Net Income, Adjusted Net Earnings per Common Share and Adjusted EBITDA are non-GAAP financial measures. See the tables herein for important information about these measures and a full reconciliation to the most comparable GAAP measure.

Financial Results for First Quarter of 2014

Net sales for the first quarter of 2014 were $1,002.2 million, an increase of $18.7 million, or 1.9%, from $983.5 million for the first quarter of 2013. The increase primarily reflects the benefit of new stores, partially offset by a 5.2% decrease in same-store sales and the effect of four store closures during the trailing four quarters. The decline in same-store sales was due to a 8.0% decrease in the number of customer transactions, partially offset by a 3.0% increase in average transaction size. Same-store sales were negatively impacted by the Easter holiday calendar shift from the first quarter of 2013 into the second quarter of 2014. In addition, same-store sales continue to be negatively impacted by competitive store openings and the weak economic environment in the Company’s core markets. Adjusted for the effect of the 2014 Easter holiday calendar shift, same-store sales declined 3.7%.

1 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,948.34 +143.54 0.81%
S&P 500 2,076.45 +5.80 0.28%
NASDAQ 4,777.9080 +12.5280 0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs