Milwaukee-based Roundy’s Inc., which operates Pick ‘n Save grocery stores throughout Wisconsin, reported first quarter adjusted net income of $8.6 million, or 19 cents per share, down from $10.6 million, or 28 cents per share, in the same period a year ago.
The company’s quarterly net sales grew 4.8 percent to $983.5 million from $938.2 million a year earlier.
The company said the sales increase primarily reflects the benefit of new stores and a 1.3 percent increase in same-store sales. Same-store sales comparisons were positively impacted by the 2013 Easter and 2013 New Year’s holiday shifts, partially offset by the negative effect of competitive store openings, the shift to greater generic pharmacy sales and the challenging economic environment.
“We are pleased with our ability to continue to realize improvements in both sales and volume through our focus on customer-centric initiatives, despite experiencing additional competitive openings and increased promotional activity in our core markets,” said Robert Mariano, chairman, president and chief executive officer of Roundy’s. “In the first quarter, we further integrated new service, product and merchandising concepts into our group of 14 test stores in the Milwaukee area. Our early improvements in key operating and financial metrics across these stores give us increased confidence to begin a roll-out to additional Milwaukee area stores over the remainder of this year.”
Mariano added, “The expansion of Mariano’s, our growth banner, continues on schedule as we recently opened our ninth and tenth stores with three more Mariano’s stores planned to open in the Chicago area in 2013 for a total 13 stores by year-end.”
