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 1, 2000
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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 002-94984
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Roundy's, Inc.
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(Exact name of registrant as specified in its charter)
Wisconsin 39-0854535
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
23000 Roundy Drive, Pewaukee, Wisconsin 53072
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(Address of principal executive offices) (Zip Code)
(262) 953-7999
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(Registrant's telephone number, including area code)
NOT APPLICABLE
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(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 1, 2000
----------------------------- ---------------------------
Common Stock, $1.25 par value
Class A (Voting) 9,800 Shares
Class B (Non-voting) 1,023,120 Shares
<PAGE>
ROUNDY'S, INC.
INDEX
-----
Page No.
--------
PART I. Financial Information:
Condensed Consolidated Balance Sheets - 3
July 1, 2000 and January 1, 2000
Condensed Statements of Consolidated Earnings - 4
Thirteen Weeks and Twenty-six Weeks Ended
July 1, 2000 and July 3, 1999
Condensed Statements of Consolidated Cash Flows - 5
Twenty-six Weeks Ended July 1, 2000
and July 3, 1999
Notes to Condensed Consolidated Financial 6
Statements
Management's Discussion and Analysis of 9
Financial Condition and Results of
Operations
PART II. Other Information 11
SIGNATURES 13
<PAGE>
PART I. FINANCIAL INFORMATION
-----------------------------
ROUNDY'S, INC. AND SUBSIDIARIES
===============================
CONDENSED CONSOLIDATED BALANCE SHEETS
July 1, 2000 and January 1, 2000
(UNAUDITED)
July 1, 2000 January 1, 2000
------------ ---------------
CURRENT ASSETS:
Cash and cash equivalents.......... $ 30,823,300 $ 68,385,800
Notes and accounts receivable, less
allowance for losses, $5,520,900
and $5,509,800, respectively..... 96,052,800 87,659,000
Merchandise inventories............ 192,680,400 166,514,000
Prepaid expenses................... 4,915,600 5,362,000
Future income tax benefits......... 8,828,800 8,026,800
------------ ---------------
Total Current Assets........... 333,300,900 335,947,600
------------ ---------------
OTHER ASSETS:
Notes receivable, less allowance
for losses of $7,137,000........... 8,964,800 10,650,600
Goodwill and other assets.......... 117,054,800 9,532,000
Other real estate.................. 5,755,100 5,705,000
Deferred income tax benefit........ 3,782,000 3,782,000
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Total Other Assets............... 135,556,700 29,669,600
------------ ---------------
PROPERTY AND EQUIPMENT - Net........ 180,814,400 131,707,500
------------ ---------------
$649,672,000 $497,324,700
============ ===============
<PAGE>
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current maturities of long-term debt $ 7,834,500 $ 24,734,500
Accounts payable................... 189,855,300 174,893,000
Accrued expenses................... 70,414,900 62,981,000
Income taxes....................... 13,338,300 5,402,600
------------ ---------------
Total Current Liabilities........ 281,443,000 268,011,100
LONG-TERM DEBT, LESS CURRENT
MATURITIES.......................... 188,695,600 48,563,600
OTHER LIABILITIES................... 33,188,800 26,830,600
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Total Liabilities................ 503,327,400 343,405,300
------------ ---------------
REDEEMABLE CLASS B COMMON STOCK..... 9,440,300 9,948,800
------------ ---------------
STOCKHOLDERS' EQUITY:
Common Stock:
Voting (Class A)................. 12,300 15,000
Non-Voting (Class B)............. 1,370,100 1,356,600
------------ ---------------
Total Common Stock............. 1,382,400 1,371,600
Patronage dividends payable in
common stock...................... 3,078,000
Additional paid-in capital......... 39,366,600 36,305,800
Reinvested earnings................ 114,482,800 104,346,400
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Total.......................... 155,231,800 145,101,800
Less Treasury Stock, at cost....... 18,327,500 1,131,200
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Total Stockholders' Equity..... 136,904,300 143,970,600
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$649,672,000 $497,324,700
============ ===============
See Notes to Condensed Consolidated Financial Statements.
<PAGE>
<TABLE>
ROUNDY'S, INC. AND SUBSIDIARIES
===============================
CONDENSED STATEMENTS OF CONSOLIDATED EARNINGS
FOR THE THIRTEEN WEEKS AND TWENTY-SIX WEEKS ENDED
JULY 1, 2000 AND JULY 3, 1999
(UNAUDITED)
<CAPTION>
Thirteen Weeks Ended Twenty-six Weeks Ended
July 1, 2000 July 3, 1999 July 1, 2000 July 3, 1999
------------- ------------- -------------- --------------
<S> <C> <C> <C> <C>
REVENUES:
Net sales and service fees $762,830,400 $666,913,400 $1,435,251,300 $1,317,527,200
Other - net................ 528,700 1,321,200 2,506,500 2,349,200
------------ ------------ -------------- --------------
763,359,100 668,234,600 1,437,757,800 1,319,876,400
------------ ------------ -------------- --------------
COSTS AND EXPENSES:
Cost of sales.............. 658,863,800 601,406,600 1,259,498,100 1,190,259,500
Operating and administrative 88,484,400 57,253,400 150,203,200 113,396,900
Interest................... 5,539,100 1,628,200 7,643,700 3,262,500
------------ ------------ -------------- --------------
752,887,300 660,288,200 1,417,345,000 1,306,918,900
------------ ------------ -------------- --------------
EARNINGS BEFORE INCOME TAXES 10,471,800 7,946,400 20,412,800 12,957,500
PROVISION FOR INCOME TAXES. 4,267,200 3,238,200 8,318,200 5,280,200
------------ ------------ -------------- --------------
NET EARNINGS...............$ 6,204,600 $ 4,708,200 $ 12,094,600 $ 7,677,300
============ ============ ============== ==============
<FN>
See Notes to Condensed Consolidated Financial Statements.
</TABLE>
<PAGE>
<TABLE>
ROUNDY'S, INC. AND SUBSIDIARIES
===============================
CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS
FOR THE TWENTY-SIX WEEKS ENDED JULY 1, 2000 AND JULY 3, 1999
(UNAUDITED)
<CAPTION>
Twenty-six Weeks Ended
July 1, 2000 July 3, 1999
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<S> <C> <C>
Cash Flows From Operating Activities:
Net earnings......................................... $ 12,094,600 $ 7,677,300
Adjustments to reconcile net earnings to net
cash flows provided by operating activities:
Depreciation and amortization........................ 12,863,800 9,087,400
Increase in allowance for losses..................... 6,600 803,300
Gain on sale of assets............................... (803,300) (71,500)
(Increase) decrease in operating assets, net of
the effect of acquisitions and disposition:
Accounts receivable.................................. (1,300,400) (7,077,100)
Merchandise inventories.............................. 5,600,300 2,112,100
Prepaid expenses..................................... 2,139,900 2,769,300
Future income tax benefits........................... (802,000)
Other real estate.................................... (50,100) (900,000)
Other assets......................................... (684,500) (125,200)
Increase(decrease)in operating liabilities, net
of the effect of acquisitions and disposition:
Accounts payable..................................... (6,796,700) (2,927,300)
Accrued expenses..................................... 18,700 10,701,600
Income taxes......................................... 2,972,700 1,933,100
Other liabilities.................................... 1,173,800 591,600
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Net cash flows provided by operating activities........ 26,433,400 24,574,600
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Cash Flows From Investing Activities:
Capital expenditures................................. (7,414,500) (11,327,700)
Proceeds from sale of property and
equipment and other productive assets.............. 4,627,900 971,900
Payment for business acquisitions net
of cash acquired................................... (129,645,000) (5,682,500)
Decrease (increase) in notes receivable.............. 1,685,800 (130,500)
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Net cash flows used in investing activities............ (130,745,800) (16,168,800)
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Cash Flows From Financing Activities:
Proceeds from long term borrowings................... 176,486,400
Reductions in debt................................... (107,263,400) (1,215,200)
Proceeds from sale of common stock................... 816,300 1,425,000
Common stock purchased............................... (3,289,400) (2,535,700)
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Net cash flows provided by(used in)financing activities 66,749,900 (2,325,900)
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<PAGE>
Net (Decrease) Increase in cash and cash equivalents... (37,562,500) 6,079,900
Cash and cash equivalents, beginning of period......... 68,385,800 72,094,500
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Cash and cash equivalents, end of period............... $ 30,823,300 $ 78,174,400
============= =============
Cash paid during period: - Interest.................... $ 6,455,600 $ 3,283,700
- Income Taxes................ 5,551,700 3,411,300
Liabilities assumed in business acquisition............ 49,987,200
<FN>
See Notes to Condensed Consolidated Financial Statements.
</TABLE>
<PAGE>
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
----------------------------------------------------
1) In the opinion of the Company, the accompanying condensed consolidated
financial statements contain all adjustments (consisting only of
normal recurring accruals) necessary to present fairly the
consolidated financial position as of July 1, 2000 and January 1,
2000, and the consolidated results of operations for the thirteen
and twenty-six weeks ended July 1, 2000 and July 3, 1999 and
changes in consolidated cash flows for the twenty-six weeks ended
July 1, 2000 and July 3, 1999.
2) The consolidated results of operations for the thirteen and twenty-
six weeks ended July 1, 2000 and July 3, 1999 are not necessarily
indicative of the results to be expected for the full fiscal year.
3) Earnings per share are not presented because they are not deemed to
be meaningful.
4) Class B common stock that is subject to redemption is reflected
outside of stockholders' equity. As of July 1, 2000 and January 1,
2000, 72,646 and 76,559 shares, respectively, were subject to
redemption. The Class B common stock subject to redemption is
payable over a five year period based upon the book value at the
preceding fiscal year end.
5) During fiscal 1998, fire destroyed the Evansville, Indiana
warehouse, inventory and equipment. The Division supplied frozen food
and meat products to Roundy's customers in the Southern Midwest area.
Settlements have been reached on the inventory, building and equipment.
Discussions are in process with the insurance carrier relating to the
business interruption losses incurred.
Due to the complexity of the claim, the Company anticipates that
the final settlement may require an extended period of negotiation.
However, Management believes that the Company's insurance coverage
was sufficient and that the final settlement with its insurance
carrier will not have a material adverse impact on the Company's
future financial statements.
6) On February 2, 2000, the Company purchased seven grocery retail
stores for cash of approximately $37.7 million. Operating results of
such stores have been included in the condensed statement of consolidated
earnings since the acquisition date. Goodwill of approximately $21.5
million resulted from the purchase and is being amortized over 20 years.
The pro forma effects of the acquisition are not material.
The acquisition was accounted for as a purchase and the financial
statements reflect the preliminary allocation of the purchase price
to the assets acquired based on their estimated fair values. Such
allocation could change based upon the receipt of various
appraisals and the completion of the assessment of fair values,
however, such changes are not anticipated to be significant.
<PAGE>
7) On March 31, 2000, the Company acquired all of the outstanding
stock of Mega Marts, Inc. ("Mega") for approximately $123.9 million in
cash and notes payable. Mega owned and operated 16 retail grocery
stores. Also on March 31, 2000, the Company acquired certain assets of
NDC, Inc. (an affiliate of Mega) consisting of a retail grocery store
known as the "Tri-City Pick `n Save" ("TCPS") for approximately
$11.2 million in cash, subject to post-closing adjustments. The
acquisition was effective at the end of the day on April 1, 2000 and
the operating results of Mega and TCPS were included in the condensed
statement of consolidated earnings after the effective date. Goodwill
and a covenant not to compete aggregating approximately $84.5 million
resulted from the purchase and are being amortized over periods up
to 20 years.
The Company financed the acquisitions with the proceeds of a new
Credit Agreement and $39 million in promissory notes issued to the
shareholders of Mega.
The acquisitions were accounted for as purchases and the financial
statements reflect the preliminary allocation of the purchase price
to the assets acquired and liabilities assumed based on their
estimated fair values. Included in the assets of Mega were 132,330
shares of the Company's Class A and B common stock. A portion of
the purchase price was allocated to such treasury shares acquired
based on the net book value of the Company's common stock as of
January 1, 2000. The purchase price allocated to the remaining
assets acquired and liabilities assumed could change based upon the
receipt of various appraisals and the completion of the assessment
of fair values, however, such changes are not anticipated to be
significant.
<PAGE>
Unaudited pro forma consolidated results of operations, including
Mega and TCPS as if they had been acquired at the beginning of 2000
and as of the beginning of 1999 follows:
Twenty-Six Weeks Ended
July 1, 2000 July 3, 1999
-------------- --------------
Net sales and service fees $1,482,867,700 $1,403,593,000
Net earnings 11,183,400 5,210,700
Pro forma results are not necessarily indicative of what would have
occurred had the acquisition been consummated as of the beginning
of the periods. Pro forma results include amortization of
intangible assets resulting from the purchase and additional
interest expense as if funds borrowed in connection with the
acquisition had been outstanding from the beginning of each period.
8) On March 31, 2000, the Company entered into a Credit Agreement in
the maximum aggregate amount of $250,000,000 with various lenders.
The Credit Agreement provides for a $170,000,000 revolving loan
commitment and an $80,000,000 term loan.
The Company used proceeds from the Credit Agreement to retire
current debt outstanding of approximately $78 million and for the
acquisition described in Note (7). The Credit Agreement includes
covenants that, among others, limits stock repurchases and
additional borrowing and provides for minimum working capital and
net worth requirements ($123,412,500 at July 1, 2000).
On April 4, 2000, the Company entered into a five-year interest rate
swap agreement under which the Company pays a fixed rate of 7.32%
and receives a floating LIBOR rate. The effect of the rate swap
agreement is to fix the rate on $60,000,000 of borrowings.
<PAGE>
9) Segment Reporting. The Company and its subsidiaries sell and
distribute food and nonfood products that are typically found in
supermarkets primarily located in the Midwest. The Company's
wholesale distribution segment sells to both corporate and
independently owned retail food stores, while the retail segment
sells directly to the consumer.
Gross Profit represents net sales, less cost of sales.
Eliminations represent the activity between wholesale and Company
owned retail stores. Inter-segment revenues are recorded at
amounts consistent with those charged to independent retail stores.
Identifiable assets are those used exclusively by that industry
segment. Corporate assets are principally cash and cash
equivalents, notes receivable, corporate office facilities and
equipment.
<TABLE>
<CAPTION>
For the thirteen weeks ended For the twenty-six weeks ended
July 1, 2000 July 3, 1999 July 1, 2000 July 3, 1999
------------- ------------- --------------- ---------------
<S> <C> <C> <C> <C>
Net Sales
Wholesale $674,612,500 $639,398,900 $1,311,912,700 $1,268,053,500
Retail 259,140,700 80,835,200 365,046,000 151,660,000
Eliminations (170,922,800) (53,320,700) (241,707,400) (102,186,300)
------------- ------------- --------------- ---------------
Total $762,830,400 $666,913,400 $1,435,251,300 $1,317,527,200
============= ============= =============== ===============
Gross Profit
Wholesale $ 50,531,800 $ 48,553,600 $ 100,506,400 $ 95,842,900
Retail 56,099,100 17,712,000 78,963,400 32,967,700
Eliminations (2,664,300) (758,800) (3,716,600) (1,542,900)
------------- ------------- --------------- ---------------
Total $103,966,600 $ 65,506,800 $ 175,753,200 $ 127,267,700
============= ============= =============== ===============
</TABLE>
Identifiable Assets July 1, 2000 January 1, 2000
------------- ---------------
Wholesale $299,477,000 $319,419,500
Retail 285,221,800 62,525,700
Corporate 64,973,200 115,379,500
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Total $649,672,000 $497,324,700
============ ============
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
---------------------------------------
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
---------------------------------------------
Results of Operations
---------------------
The following is management's discussion and analysis of certain
significant factors, which have affected the Company's results of
operations during the periods included in the accompanying condensed
statements of consolidated earnings.
A summary of the period to period changes in the principal items included
in the condensed statements of consolidated earnings is shown below:
Comparison of
----------------------------------------------------------
13 Weeks Ended July 1, 2000 26 Weeks Ended July 1, 2000
and July 3, 1999 and July 3, 1999
Increase/<Decrease> Increase/<Decrease>
----------------------------------------------------------
Net sales and service fees $95,917,000 14.4% $117,724,100 8.9%
Cost of sales 57,457,200 9.6% 69,238,600 5.8%
Operating and admin.
expenses 31,231,000 54.5% 35,806,300 32.5%
Interest expense 3,910,900 240.2% 4,381,200 134.3%
Earnings before income taxes 2,525,400 31.8% 7,455,300 57.5%
Net sales and service fees increased approximately $95.9 million during
the second quarter of 2000 as compared to the second quarter of 1999. The
loss of wholesale customers resulted in a decrease of approximately $18.6
million. The closing or sale of three Company-owned stores resulted in a
decrease of approximately $5.9 million. New Company-owned stores resulted
in an increase of approximately $181.5 million. The increase in inter-
segment revenues (eliminations) resulted in a decrease of approximately
$117.6 million. Sales by existing Company-owned stores increased $2.6
million. Sales to new and existing wholesale customers increased $53.9
million.
Net sales and service fees increased approximately $117.7 million during
the first two quarters of 2000 as compared to the first two quarters of
1999. The loss of wholesale customers resulted in a decrease of
approximately $27.1 million. The closing or sale of four Company-owned
stores resulted in a decrease of approximately $10.3 million. New Company-
owned stores resulted in an increase of approximately $222.8 million. The
increase in inter-segment revenues (eliminations) resulted in a decrease
of approximately $139.5 million. Sales by existing Company-owned stores
increased $0.9 million. Sales to new and existing wholesale customers
increased $70.9 million.
Cost of sales approximated 86.4% and 90.2% of net sales and service fees
for the thirteen weeks ended July 1, 2000 and July 3, 1999, respectively.
This lower cost of sales percentage is primarily due to the higher
concentration of retail store business. Cost of sales, for the wholesale
segment approximated 90.5% and 91.8% of wholesale net sales and service
fees for the thirteen weeks ended July 1, 2000 and July 3, 1999,
respectively. Cost of sales for the retail segment approximated 78.4% and
78.1% of retail net sales and service fees for the thirteen weeks ended
July 1, 2000 and July 3, 1999, respectively.
<PAGE>
Year-to-date cost of sales approximated 87.8% and 90.3% of net sales and
service fees for the twenty-six weeks ended July 1, 2000 and July 3, 1999,
respectively. This lower cost of sales percentage is primarily due to the
higher concentration of retail store business. Cost of sales, for the
wholesale segment approximated 91.0% and 91.9% of wholesale net sales and
service fees for the twenty-six weeks ended July 1, 2000 and July 3, 1999,
respectively. Cost of sales for the retail segment approximated 78.4% and
78.3% of retail net sales and service fees for the twenty-six weeks ended
July 1, 2000 and July 3, 1999, respectively.
Operating and administrative expenses approximated 11.6% and 8.6% of net
sales and service fees for the thirteen weeks ended July 1, 2000 and July
3, 1999, respectively. Year-to-date operating and administrative expenses
approximated 10.5% and 8.6% of net sales and service fees for the twenty-
six weeks ended July 1, 2000 and July 3, 1999, respectively. This higher
expense percentage is primarily due to the higher concentration of retail
store business.
Interest expense increased primarily as a result of higher borrowing
levels and partially due to a $763,900 prepayment penalty for the early
extinguishment of long-term debt that was paid.
No patronage dividends have been accrued as of July 1, 2000. The
Company's by-laws require that, to the extent permitted by the Internal
Revenue Code, patronage dividends be paid out of earnings from business
done with stockholder-customers in an amount which will reduce net
earnings of the Company to such amount as will result in an eight percent
increase in the book value of its common stock.
The income tax rate used for calculating the provision for income taxes
for the interim periods was 40.7% in 2000 and 1999.
Liquidity and Capital Resources
-------------------------------
The Company's current ratio decreased slightly from 1.25:1 at year-end to
1.18:1 at July 1, 2000. The consolidated long-term debt to equity ratio
has increased from 0.32:1 at January 1, 2000 to 1.29:1 at July 1, 2000,
partially due to decreased equity levels (created by an additional $17.2
million in treasury stock) and partially due to a $140.1 million increase
in long-term debt incurred to finance the business acquisitions (see notes
6, 7, and 8 of Notes to Condensed Consolidated Financial Statements).
Stockholders' equity, including redeemable common stock, decreased
approximately $7.6 million due to an additional $17.2 million in treasury
stock and common stock purchases of $3.3 million offset by reinvested
earnings of $12.1 million and proceeds from the sale of common stock of
$0.8 million.
<PAGE>
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
25, 2000. A meeting of the Trustees of Roundy's, Inc. Voting
Trust was also held on April 25, 2000.
(b) At the annual meeting, Charles R. Bonson was elected as a
retailer director. At the meeting of the Trustees, Robert E.
Bartels was elected as non-retailer non-management director and
Robert D. Ranus was elected as an officer director. 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 S. Gold, George C. Kaiser, Henry
Karbiner, Jr., Gerald F. Lestina, Patrick D. McAdams, George E.
Prescott, and Gary R. Sarner.
<PAGE>
ITEM 6. Exhibits and Reports on Form 8-K
--------------------------------
(a) Exhibits
27.1 Financial Data Schedule.
(b) Reports on Form 8-K -- On April 14, 2000, the Company filed a
Form 8-K stating that on March 31, 2000, the Company, consummated
the acquisition of: all of the outstanding stock of Mega Marts,
Inc. from the shareholders of Mega for a purchase price of
approximately $123.9 million, subject to post-closing adjustments;
and certain of the assets of NDC, Inc. consisting of a retail
grocery store known as the "Tri-City Pick 'n Save" for a purchase
price of approximately $11.2 million, subject to post-closing
adjustments. The Company financed the acquisitions utilizing the
proceeds of a new Credit Agreement (see below) and issued
approximately $39 million in promissory notes to certain of the
shareholders of Mega.
On March 31, 2000, the Company also entered into a Credit Agreement
in the maximum aggregate amount of $250,000,000 with various lenders
(the "Credit Agreement"). The Credit Agreement provides for a
$170,000,000 revolving loan commitment and an $80,000,000 term loan.
Following are the material components of the application of the
proceeds of the Credit Agreement which were drawn on March 31, 2000
(the total amount drawn was approximately $175.5 million): (i)
approximately $15.0 million was used to pay indebtedness of Mega;
(ii) approximately $96.2 million was paid to the shareholders of
Mega and to NDC, Inc.; (iii) approximately $63.0 million was used to
retire long-term indebtedness of the Company; and (iv) the remaining,
approximately $1.3 million, was used to pay other expenses, primarily
transaction costs. On April 4, 2000, the Company entered into a
five-year interest rate swap agreement under which the Company pays a
fixed rate of 7.32% and receives a floating LIBOR rate. The effect
of the rate swap agreement is to fix the rate on $60,000,000 of
borrowings.
Also, on February 2, 2000, the Company consummated the acquisition
of substantially all of the assets of Ultra Mart, Inc. ("Ultra"),
an operator of seven retail grocery stores, for a purchase price of
approximately $37.7 million.
<PAGE>
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 8, 2000 ROBERT D. RANUS
-------------- -------------------------
Robert D. Ranus
Vice President and
Chief Financial Officer
(Principal Financial Officer)
<PAGE>
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 8, 2000
-------------- -------------------------
Robert D. Ranus
Vice President and
Chief Financial Officer
(Principal Financial Officer)
<PAGE>
