Roundy’s Earnings: Here’s Why Shares are Down Now
Roundy’s Inc (NYSE:RNDY) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 5.48%.
Roundy’s Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 28.57% to $0.3 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Decreased 1.66% to $980.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Roundy’s Inc reported adjusted EPS income of $0.3 per share. By that measure, the company missed the mean analyst estimate of $0.33. It missed the average revenue estimate of $1.02 billion.
Quoting Management: “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.
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