Roundy’s said Wednesday slight increases in key metrics across its core markets helped boost sales and earnings for the fourth quarter, which ended Dec. 29.
According to Robert A. Mariano, chairman, president and CEO of the Milwaukee-based company, “We continued to experience an improvement in our sales cadence across our core markets, which helped us begin to generate a slight increase in a number of key metrics versus the prior year.
“While we still have important challenges to overcome in our core markets, we believe the investments we made in 2013 and continue to make are beginning to resonate with our customers.”
Net income for the quarter was $8.7 million, compared with a loss of $98.4 million a year earlier, and adjusted net income — excluding a $2.1-million after-tax charge related to the write-off of unamortized loan costs related to a $148 million term loan pre-payment loan and a $600,000 after-tax expense related to acquisition costs and term loan amendment fees — rose 32.6% to $11.4 million.
Sales for the quarter rose 2% to $1 billion, while three store closures contributed to a 2.4% decline in same-store sales. The same-store results reflected a 4.2% decline in customer transactions and a 1.9% increase in average transaction size.
For the year net income was $34.5 million, compared with a loss of $69.2 million in the prior year, and adjusted net income fell 21.9% to $36.7 million.
Sales for the year rose 1.5% to $4 billion, while same-store sales fell 2.7%, reflecting a 4.7% decline in customer transactions and a 2.2% increase in average transaction size.
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