Roundy’s Q2 results sag

Milwaukee-based grocer Roundy’s Inc. reported that its second quarter net income fell 28.6 percent to $13.5 million, or 30 cents per diluted share, and that its net sales dipped 1.7 percent to $980.3 million, compared to the second quarter of 2012.

“During the second quarter, same-store sales results in our core markets did not meet our performance goals. Although the calendar shifts of the Easter and July 4th holidays contributed to the overall weakness in the quarter, our results were primarily affected by the challenging competitive environment, unfavorable spring weather conditions compared to the prior year and a continued soft economic climate in our core markets. The result was a continued price-conscious and cautious consumer,” said Robert Mariano, chairman, president and chief executive officer of Roundy’s.

The company added two new Mariano’s stores in the Chicago area during the second quarter and average weekly net sales per store for all Mariano’s stores for the quarter were slightly over $1 million, the company said. The company plans to add more Mariano’s stores in the Chicago area.

“Despite the weaker than anticipated performance of our core stores, our Mariano’s banner continues to show strong sales and profitability trends,” Mariano said. “We continue to expand our store footprint, with 11 Mariano’s stores in the Chicago area and two more locations scheduled to open before year-end. We will continue to invest in the Mariano’s banner and we anticipate five additional store openings in the Chicago area in 2014.”

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