Monday, February 13, 2012

Weis Markets reports strong quarterly and year-end results

It's been a busy day for Weis. Not only did they announce the purchase of three Genuardi's stores in Pennsylvania, but they also announced their quarterly and year-end results. The Genuardi's news can be found in more detail here, and below is a short summary of their financial results.

  • Sales increased 11.4% for the 14-week period ending December 31, 2011 (the fourth quarter), compared to the 13-week period ending December 25, 2010. Comparable sales - adjusted for the extra week in 2011 - increased 4.8%.
  • Fourth quarter income increased 37% compared to the same period a year ago, and earnings per share increased 38.5% ($0.20 per share) to $0.72 per share.
  • Sales increased 5% to $2.8 billion for the 53-week period ending December 31, 2011 (the year). Comparable sales - adjusted for the extra week in 2011 - increased 4.2%.
  • Net income for the year increased 10.7% to $75.6 million, and earnings per share increased $0.27 to $2.81 per share.
This year is Weis Markets' 100th year of operation.

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