MILWAUKEE, WI - Roundy’s, Inc. has reported its Q1 2015 financial results, citing lower-than-expected March sales, and declining sales in the retailer’s Wisconsin locations.
“We achieved our targeted EBITDA and gross margin rate for the first quarter, which were the result of improved operational efficiencies in both our Wisconsin and Illinois stores. Due to softer than anticipated March and Easter sales, our same-store sales were below our expectations,” said Robert A. Mariano, Chairman, President and Chief Executive Officer 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.”
Net sales from continuing operations for the first quarter of 2015 were $981.9 million, an increase of 13.8% from the first quarter of 2014. Net sales for the Roundy’s Wisconsin markets however were $646.7 million, a decrease of $16.8 million. The company closed three Wisconsin stores in Q4 2015, which the company believes is the main reason for the sales slump.
As we have previously reported, Roundy’s has denied any rumors that the retailer will pull out of the state, despite the dropping sales.
Additional highlights from the report include:
- Net sales from continuing operations increased 13.8% to $981.9 million
- Net loss from continuing operations was $0.4 million, or $0.01 diluted net loss per common share, compared to net loss from continuing operations of $5.5 million, or $0.12 diluted net loss per common share
- Adjusted net loss from continuing operations2 was $0.4 million, or $0.01 adjusted diluted net loss per common share, compared to adjusted net loss from continuing operations2 of $0.8 million, or $0.02 adjusted diluted net loss per common share
- Adjusted EBITDA from continuing operations2 was $30.2 million compared to $28.5 million
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