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

Roundy’s, Inc. (“Roundy’s”) (NYSE: RNDY), a leading grocer in the Midwest, today reported financial results for the thirteen weeks and twenty-six weeks ended June 28, 2014.

Q2 2014 1

  • Net sales from continuing operations increased 11.9% to $971.9 million
  • Net loss from continuing operations was $13.5 million, or $0.28 net loss per diluted common share, compared to net income from continuing operations of $11.6 million, or $0.26 diluted net earnings per common share
  • Adjusted net loss from continuing operations 2 was $3.0 million, or $0.06 adjusted net loss per diluted common share 2, compared to adjusted net income from continuing operations 2 of $11.6 million, or $0.26 adjusted diluted net earnings per common share 2
  • Adjusted EBITDA from continuing operations 2 was $26.9 million compared to $44.5 million

Year-to-Date 2014 1

  • Net sales from continuing operations increased 7.5% to $1,866.3 million
  • Net loss from continuing operations was $20.0 million, or $0.42 net loss per diluted common share, compared to net income from continuing operations of $17.4 million, or $0.39 diluted net earnings per common share
  • Adjusted net loss from continuing operations 2 was $4.8 million, or $0.10 adjusted net loss per diluted common share 2, compared to adjusted net income from continuing operations 2 of $17.4 million, or $0.39 adjusted diluted net earnings per common share 2
  • Adjusted EBITDA from continuing operations 2 was $54.6 million compared to $81.1 million

“We continue to be proactive on a number of fronts to improve performance over the long term,” said Robert A. Mariano, chairman, president and chief executive officer of Roundy’s. "We recently closed on the sale of 18 Rainbow stores that was announced in May and we have closed the remaining nine stores not included in the sale, completely exiting the Twin Cities market. We are also closing our Stevens Point, WI, distribution center at the end of the third quarter and we implemented additional cost containment initiatives during the second quarter. Our operating results during the quarter were negatively impacted by these initiatives as well as start-up costs related to the Dominick’s stores acquired from Safeway. We are confident that the strategic actions we started in the second quarter will improve our cost structure, operational efficiency and overall execution to provide positive long-term benefits to our business.”

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