Weis Markets Reports Second Quarter Gains

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Weis Markets reported that its second quarter sales for the 13-week period, which ended July 1, jumped 20 percent to $876.6 million compared to $730.4 million for the same period in 2016.

In the second quarter, the company’s operating income increased 15.2 percent to $27.7 million compared to $24.1 million for the same period in 2016. The company’s second quarter net income increased 21.0 percent to $18.5 million.

For the 26-week period ended July 1, the company’s sales increased 17.7 percent to $1.7 billion compared to the same period in 2016 while comparable store sales were up 1.7 percent.

“Our comparable stores have now increased for the 13th consecutive quarter,” said Chairman & CEO Jonathan Weis. “During this period our sales and net income benefited from the strong performance of our pharmacy and deli-food service departments, sustained and varied promotions throughout our seven-state market area and increased store-level efficiencies and expense controls.”

Weis Markets operates 204 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, Virginia and West Virginia.

About The Author

A veteran 20-year editor of The Griffin Report who often tours various supermarkets to check out the latest trends. When he isn’t writing, he enjoys sports, his family and young, energetic grandchild.