US retailer Roundy’s Inc made a net loss in its 2012 fiscal year as one-off charges hit earnings.
In the 12 months to the end of December, the retailer recorded a net loss of $69.2m. This compared to a profit of $48.1m last year, the company said yesterday (28 February). Adjusted net income, excluding the impact of non-recurring charges and a goodwill impairment charge, was $47m versus $48m last year.
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Adjusted EBITDA dropped to $198.7m from $224.2m in the prior year period.
Net sales were up 1.3% to $3.89bn, primarily as a result of new store openings. However, Roundy’s reported a 2.8% drop in same-store sales. Roundy’s blamed the effect of “competitive store openings” during the last twelve months, as well as the “continued challenging economic and promotional environment”.
