Milwaukee-based grocer Roundy’s, Inc. today reported a first quarter net loss of $4.5 million, or 10 cents per share, down from net income of $8.7 million, or 19 cents per share, in the first quarter of 2013.
Revenue was $1 billion, up from $983.5 million in the same period a year ago.
“During the first quarter of 2014, we continued to see softness in our core markets,” said Robert Mariano, chairman, president and chief executive officer of Roundy’s. “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.”
However, the company added five Mariano’s stores during the quarter, and is encouraged by the strong customer and community acceptance for the stores, which are in the Chicago area.
Yesterday, Roundy’s announced it has agreed to sell 18 Rainbow stores in the Minneapolis/St. Paul market as it works to exit that area.
