US regional retailer Roundy’s Supermarkets has said it is encouraged about its future growth prospects after booking an increase in full-year profits.
In the 12 months to 1 January, the company’s net profit was US$48m, a 3.9% increase on the prior-year. EBITDA for the year edged up 0.5% to $224.2m, the retailer reported yesterday (1 March).
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Net sales for 2011 grew 2% to reach $3.84bn, although same-store sales decreased 0.2% from 2010 due to a 2.6% decrease in the number of customer transactions fell amid new competition and weak discretionary spending by consumers, the company said.
In the fourth quarter, net profit climbed 6.9% to $9.2m, while EBITDA rose 1.6% to reach $51.4m.
Net sales in the period amounted to $968.7m, a 2.2% increase on the prior-year period. Same store sales, however, dropped 1.2% from the prior year due to a 3.2% decrease in the number of customer transactions.
Despite this, president and CEO Robert Mariano said the company was “pleased” with its financial performance.
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By GlobalDataHe added: “We are encouraged about our future growth prospects and believe that Roundy’s is well-positioned for continuous financial improvement, despite the continued challenging economic environment for many of our customers.”
The company said it expects to open four new stores in the Chicago area and relocate two stores in its Wisconsin market this year.
