Roundy’s, Inc. Reports Third Quarter 2013 Financial Results

Roundy’s, Inc. (“Roundy’s”) (NYSE: RNDY), a leading grocer in the Midwest, today reported financial results for the third quarter and nine months ended September 28, 2013.

Q3 2013 1
  • Net sales increased 1.1% to $984.2 million
  • Net income was $3.8 million, or $0.08 diluted net earnings per common share, compared to $7.9 million, or $0.18 diluted net earnings per common share
  • Adjusted net income 2 was $3.2 million, or $0.07 adjusted diluted net earnings per common share 2, compared to $8.8 million, or $0.20 adjusted diluted net earnings per common share 2
  • Adjusted EBITDA 2 was $34.2 million compared to $43.1 million

Year-to-Date 2013 1
  • Net sales increased 1.4% to $2,948.0 million
  • Net income was $25.9 million, or $0.57 diluted net earnings per common share, compared to $29.1 million, or $0.68 diluted net earnings per common share
  • Adjusted net income 2 was $25.3 million, or $0.56 adjusted diluted net earnings per common share 2, compared to $38.3 million, or $0.89 adjusted diluted net earnings per common share 2
  • Adjusted EBITDA 2 was $129.4 million compared to $152.0 million

“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 of Roundy’s. “In addition, we incurred an unusual amount of incremental marketing and advertising expenses associated with our Milwaukee Renewal effort and higher promotional activity. Despite these headwinds, our sales cadence improved throughout the third quarter and this has continued into the fourth quarter. 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.”

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