11
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended July 4, 1998
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________ to ____________
Commission File Number 33-57505
Roundy's, Inc.
(Exact name of registrant as specified in its charter)
Wisconsin 39-0854535
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
23000 Roundy Drive, Pewaukee, Wisconsin 53072
(Address of principal executive offices) (Zip Code)
(414) 547-7999
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since
last report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days. Yes X
No___
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.
Class Outstanding at July 4, 1998
Common Stock, $1.25 par value
Class A (Voting) 12,600 Shares
Class B (Non-voting) 1,135,046 Shares
<TABLE>
<CAPTION>
ROUNDY'S, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED CASH FLOWS
FOR THE TWENTY-SIX WEEKS ENDED JULY 4, 1998 AND JUNE 28, 1997
(UNAUDITED)
Twenty-six Weeks Ended
July 4, 1998 June 28, 1997
-------------- ---------------
<S> <C> <C>
Cash Flows From Operating Activities:
Net earnings ............................ $ 6,778,900 $ 6,579,800
Adjustments to reconcile net
earnings to net cash provided by
operating activities:
Depreciation and amortization ........... 9,448,300 8,392,400
Allowance for losses .................... 1,002,700 1,284,400
(Gain) loss on sale of assets ........... (173,200) 344,400
(Increase) Decrease in Operating Assets,
Net of the Effects of Disposition
Accounts receivable ..................... 533,500 9,054,100
Merchandise inventories ................. (10,697,200) (1,285,200)
Prepaid expenses ........................ 2,611,300 (50,100)
Other real estate ....................... 2,821,200 (1,028,400)
Goodwill and other assets ............... (54,300) (25,600)
Increase(Decrease)in Operating Liabilities,
Net of the Effects of Disposition
Accounts payable ........................ 6,332,800 (6,028,000)
Accrued expenses ........................ 5,008,900 3,364,500
Income taxes ............................ 3,778,300 4,150,000
Other liabilities ....................... 77,000 58,400
------------- -------------
Net cash flows provided by operating
activities ............................... 27,468,200 24,810,700
------------- -------------
Cash Flows from Investing Activities:
Capital Expenditures .................... (5,445,800) (7,752,900)
Proceeds from sale of property and
equipment and other Productive Assets .. 3,194,400 1,408,900
(Increase) Decrease in notes receivable . (1,436,800) 738,600
------------- -------------
Net cash flows used in
investing activities .................. (3,685,200) (5,605,400)
------------- -------------
Cash Flows from Financing Activities:
Principal payments of long-term debt .... (1,215,700) (1,212,400)
Increase (Decrease) in current
maturities of long-term debt .......... 1,400 (53,300)
Proceeds from sale of common stock ...... 1,199,000 696,400
Common stock purchased .................. (3,898,700) (1,818,800)
------------- -------------
Net cash flows used by financing
activities .............................. (3,913,500) (2,388,100)
------------- -------------
Net Increase in Cash and Cash
Equivalents ............................. 19,869,500 16,817,200
Cash and Cash Equivalents,
Beginning of Period ..................... 52,366,900 40,342,300
------------- -------------
Cash and Cash Equivalents, End of Period .. $ 72,236,400 $ 57,159,500
============= =============
Cash paid during the period: - Interest $ 3,852,600 $ 4,029,000
- Income Taxes 981,700 457,600
</TABLE>
See Notes to Consolidated Financial Statements.
II. OTHER INFORMATION
ITEM 4. Submission of Matters to a Vote of Security Holders
(a) Matters were submitted to a vote of the holders of the Company's
Class A common stock at the Company's annual meeting on April 28,
1998. A meeting of the Trustees of Roundy's, Inc. Voting Trust
was also held on April 28, 1998.
(b) At the annual meeting, Robert S. Gold and Patrick D. McAdams were
elected as retailer directors. At the meeting of the Trustees,
George C. Kaiser and Gary R. Sarner were elected as non-retailer
non-management directors. All of these votes were unanimous
since all of the Class A common stock is held in a voting trust
and the trustees are required to vote the Class A common stock as
a block. The following directors continue in office: Robert E.
Bartels, Charles R. Bonson, Gary N. Gundlach, Gerald F. Lestina,
Robert D. Ranus and Brenton H. Rupple.
ITEM 6. Exhibits and Reports on Form 8-K
(a) Exhibits
(b) Reports on Form 8-K -- There were no reports on Form 8-K filed
for the thirteen weeks ended July 4, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ROUNDY'S, INC.
(Registrant)
Date: August 7, 1998 ROBERT D. RANUS
-----------------------------
Robert D. Ranus
Vice President and
Chief Financial Officer
(Principal Financial Officer)
