Roundy’s Inc. reported fourth quarter net income of $9.2 million, or 30 cents per share, compared with a net loss of $98.4 million, or $2.19 per share, in the same period a year ago.
The Milwaukee-based parent company of Pick ‘n Save and Rainbow Foods stores reported quarterly net sales of $968.7 million, down from $981.9 million a year earlier.
For the full year, net sales increased 1.3 percent to $3.89 billion.
“We’re pleased with the progress we made on our customer-centric initiatives in the fourth quarter,” said Robert Mariano, chairman, president and chief executive officer of Roundy’s. “These initiatives continue to resonate with our customers as own brand penetration finished the year at a record 21.6 percent while our perishable sales mix for the quarter was 120 basis points higher than last year. Our team continues to focus on providing our customers with superior quality, service and selection to set us apart from our competition and better position us in the markets we serve.”
Mariano added, “I’m also pleased to report that our growth plan for Mariano’s in the Chicago market is on track. The stores continue to exceed our expectations for both sales and profitability. We plan to open five additional Mariano’s in the Chicago area in 2013, which will give us 13 stores in that market. We are encouraged by our sales trends to-date in 2013, but believe that our results in our core markets will continue to be impacted by a cautious consumer, as well as increased competitive unit growth and promotional activity. We remain intently focused on our strategy to deliver the best overall value and service to our customers and to use our cash flow to expand the Mariano’s banner, pay down debt and deliver an attractive dividend to our shareholders.”