Roundy’s cuts net loss in Q1, will open five stores

Milwaukee – A sharp reduction in loss from continuing operations, primarily related to the sale of the Rainbow banner to Supervalu, helped Roundy’s Inc. cut net loss to $2.33 million in the first quarter of fiscal 2015, from $4.52 million the same quarter a year earlier. Net sales rose 14% to $981.93 million from $862.69 million, while same-store sales dropped 1.6%.



Roundy’s plans to open five new stores and close one store in fiscal 2015, with two openings and the closure occurring in the second quarter. During the second quarter, Roundy’s expects net sales of $985 million - $995 million, and net sales of $3.95 billion - $4.02 billion for the fiscal year. Same-store sales are expected to undergo negative growth of 4%-5% during the second quarter and 1.75%-3.75% during the fiscal year.



“Due to softer than anticipated March and Easter sales, our same-store sales were below our expectations,” said Robert A. Mariano, chairman, president and CEO of Roundy’s. “We remain committed to improving financial performance across all of our banners. Our team has embarked on a number of initiatives aimed at managing expenses and further improving our operating efficiencies and execution.”