Weis Markets Reports 3.2 Percent Sales Increase For Q1
Weis Markets Inc. this morning reported that its first quarter sales increased 3.2 percent to $682.7 million compared to the same period in 2012 while its comparable store sales increased 0.8 percent.
For the 13-week period ending March 30, the company’s net income increased 0.5 percent to $20.1 million compared to the same period in 2012 while its diluted earnings per share increased to $.75 per share compared to $.74 per share for the same period a year ago.
“We continue to make forward progress in a market impacted by a poor economy that is generating minimal job growth. These have been ongoing trends in most of the markets we serve,” said David J. Hepfinger, president and CEO of Weis Markets. “Our customers were also impacted in the first quarter by a tax increase and post-holiday debt. This soft sales environment spurred increased competitive activity in most of our key markets. We were able to offset these trends through disciplined marketing and promotional programs and improved productivity and operational efficiencies at store and distributional levels.”
Founded in 1912, Weis Markets operates 164 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia.