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Roundy's posted net sales of $971.9 million for its second quarter ended June 28, 2014, an increase of $103.6 million, or 11.9 percent, from the year-ago period.
The Milwaukee-based grocer's same-store sales for Q2, excluding its Rainbow banner, which the company divested in May of this year, were down 2.2 percent, which the company attributed to competitive store openings and the weak economy in its core markets.
Roundy's gross profit in Q2 increased 10.1 percent to $256.4 million from $233 million in the year-ago period. Moreover, the company posted a net loss of $13.5 million, or $0.28 net loss per diluted common share, compared to $11.6 million, or $0.26 diluted net earnings per common share for Q2 2013.
Despite its less-than-stellar Q2 performance, Robert A. Mariano, chairman, president and CEO of Roundy’s, said: “We continue to be proactive on a number of fronts to improve performance over the long term,” noting the company's seven new stores opened by the end of Q2, of which six are Mariano's, bringing the fresh-focused banner's total to 24, among the foremost initiatives driving growth.
Roundy's YTD Roundup
Roundy's year-to-date performance netted $1.8 million in sales for the 26 weeks ended June 28, 2014, an increase of $130.9 million, or 7.5 percent, from $1.7 million for the year-ago period. Year-to-date same-store sales declined 3.3 percent. Gross profit for the year was up 7.2 percent to $495.3 million, from $462 million in the same period last year.
The company said it posted a net loss of $20 million in the year, or $0.42 per diluted common share, compared to net income from continuing operations of $17.4 million, or $0.39 diluted net earnings per common share.
Roundy’s operates 148 retail grocery stores and 97 pharmacies under the Pick ’n Save, Copps, Metro Market and Mariano’s retail banners in Wisconsin and Illinois.