Same store sales keep sliding at Roundy's

Regional grocery chain Roundy’s Inc. is heading out of a “transition year,” according to CEO Robert Mariano, with lackluster same store sales growth.

Roundy’s reported a same-store sales decline of 2.3% for the fourth quarter.In 2014 overall, same-store sales dipped 2.9%. For the year, net sales reached $3.86 billion, up from $3.35 billion in 2013.

“We are pleased with our improvement in net sales and EBITDA in the fourth quarter of 2014 from the prior year,” said Robert A. Mariano, chairman, president and CEO of Roundy’s. “The fourth quarter was also our second consecutive quarter of improved same-store sales. Overall, 2014 was a transition year for the company with our investments in Illinois growth and our transition out of the Twin Cities market. Each successive quarter was another building block in creating a solid foundation for the future.”

Roundy's posted net income of $6.14 million, or a loss of 3 cents per share, in the fourth quarter, compared with net income of $8.65 million, or 12 cents per share, for the same period in 2013. For the year overall, Roundy's saw a net loss of $252.9 million, or $5.30 per share, compared with net income of $25.8 million, or 57 cents per share, in 2013.

"While the current operating environment still presents challenges near-term, we remain confident in our ability to implement our strategic operational initiatives designed to optimize our long-term performance," Mariano said.

Roundy’s operates 149 retail grocery stores and 99 pharmacies under the Pick ’n Save, Copps, Metro Market and Mariano’s retail banners in Wisconsin and Illinois.