Tuesday, October 18, 2011

Weis Markets on a role as sales continue to increase

Weis Markets reported last week that third quarter sales jumped 6% to $678.6 million and same-store sales increased 6.5% compared to the same period a year ago. In addition, the company's third quarter earnings per share increased to $0.63 (from $0.61) and net income for the period was up 4.1% to $17 million.

Weis Markets Chairman Robert F. Weis said in a press release that the company benefited from improved operating performance and execution at store level, and increased supply chain efficiencies. He also noted that fuel and wholesale inflation had an impact on the business, but the increased costs were not passed on to consumers.

For the 39-week period ending September 24, 2011, Weis Markets' sales increased 2.9% to $2 billion, and same-store sales rose 4%.

Weis Markets operates 162 stores in Pennsylvania, Maryland, New York, New Jersey and West Virginia. Next year the company will celebrate it's 100th year of operation.

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