Weis Markets unveils in-store pub, ice cream shop and drive-thru pharmacy

Weis Markets unveiled its "Community Market," a new store prototype, last week in Enola, PA, near Harrisburg. The 65,000 square foot store incorporates an in-store pub, ice cream shop, juice bar and expansive food court.

According to a PennLive.com story that was reported in Supermarket News, the store is designed to take Weis' service to the next level.

"We are sort of a middle-of-the-road supermarket," said CEO Jonathan Weis in the PennLive story. "We always have one eye on pricing and we compete with massive competitors such as Royal Ahold, Walmart and Wegmans, and others who do a tremendous volume. So that tempers our thinking. But, on the other hand, we have to be on trend. We want to be interesting, not boring or dull. We just have a philosophy that we're not going to be afraid to fail."

The new store protoype also includes a drive-thru pharmacy, a fuel center, and online ordering for in-store pickup. The company says it intends to incorporate elements of the new prototype into existing stores.

Weis plans for $92 million in capital spending

Weis announced late last month that they plan to invest $92 million in capital spending this year to grow and upgrade its stores, information technology systems and supply chain. According to Chairman Jonathan Weis, there are 12 store projects underway and another 23 in active planning stages. There is also a major upgrade planned for the company's distribution center.

Weis currently operates 163 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia.

Weis Markets investing over $100 million in growth

Weis Markets announced last week that it would invest more than $100 million on 16 growth and improvement projects in 2014. The company also said it would continue to increase its focus on "maximizing efficiency by driving millions of dollars of cost out of the system while maintaining high standards for store service."

President and CEO Jonathan Weis said this ongoing focus has helped Weis Markets to reduce store level inventories and improve freshness.

In 2013 Weis opened two stores in Maryland, and one each in New Jersey and Pennsylvania.

The company has more than 18,000 employees and operates 165 stores in Pennsylvania, Maryland, New York, New Jersey and West Virginia.

Jonathan Weis named Weis Markets President and CEO

Jonathan Weis was named President and CEO of Weis Markets, following in his father Robert's footsteps. Robert currently serves as Chairman of the company's Board of Directors.

Jonathan Weis has been with the company since 1989 and has served in a number of roles, most recently as interim CEO, and Vice Chairman and Corporate Secretary.

Weis Markets was founded in 1912 and operates 165 stores in PA, MD, NJ, NY and WV.

Could Weis Markets be Kroger's next acquisition?

An October 21 story on Cincinnati.com about Kroger's growth plans specifically mentions A&P and Weis as possible acquisition targets for the nation's largest supermarket chain. In the past year, Kroger executives have indicated a willingness to grow, potentially through more acquisitions. The company is about to close on a $2.5 billion purchase of Harris Teeter.

Although A&P and its 320 stores could reportedly be available for between $500 million to $1 billion, most analysts agree that Kroger would prefer to pursue a healthier company. And Weis, which has experienced strong financials results in recent years, is considered cheap when measured by its price-to-earnings ratio.

Weis, which operates 165 stores in PA, MD, NJ, NY and WV, is undergoing a management change, as CEO David Hepfinger recently left to pursue other interests. Vice Chairman Jonathan Weis is now the CEO on an interim basis.

According to the Cincinnati.com story, analysts say family-controlled companies become more likely to sell out to a larger player when a third generation family member assumes control. Currently, 47 percent of Weis is owned by Robert Weis, the 93-year-old son of the company's co-founder.

Analyst Joseph Feldman of Telsey Advisory Group added that companies with families owning large stakes could make a deal very easy or shut it down, depending on their wishes.

Weis Markets CEO resigns

Weis Markets announced yesterday that CEO David J. Hepfinger has resigned as CEO "to pursue other interests." Jonathan Weis, the company's vice chairman, has been named CEO on an interim basis.

Hepfinger served as CEO for more than four years, during which time the supermarket chain experienced significant store expansion and renovation programs, including the acquisition of several former Genuardi's stores.

More recently, Weis reported decreases in sales and comp-store sales for the second quarter of 2013.

Weis Markets has 165 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia.