Last updated on May 2nd, 2013 at 11:35 am
Weis Markets is increasing its capital budget by 8 percent this year vs. 2012. It plans to spend $135 million this year on stores, IT infrastructure and more.
At the company’s annual shareholder meeting in late April at its Store Support Center in Sunbury, Pa., Weis President and CEO David J. Hepfinger and Vice Chairman Jonathan H. Weis briefed shareholders on the plans and the company’s results.
“To position our company for continued growth, we have made record investments in our store base,” said Weis. “Look for more of the same in 2013 when we increase our cap ex investment to $135 million—an 8 percent increase compared to 2012 and a 33 percent increase compared to 2011.”
In 2013, the company is planning 37 major projects, including four new stores, 15 major remodels and 17 remodels.
“By the end of 2013, we will have invested nearly half a billion dollars in our growth and will have completed more than 100 projects. Our cap ex program also includes record level investments in our information technology infrastructure,” added Hepfinger. “Improving our decision support and measurement capabilities are essential to our growth and future profitability.”
According to Hepfinger, supply chain and improving service are also key areas of focus. “Our organization has worked diligently to improve efficiencies throughout our supply chain—from distribution to the customer’s cart. We are also holding ourselves accountable to our customers in all that we do, which has resulted in better in-stock conditions, improved freshness and product rotation and better customer service.”
Founded in 1912, Weis Markets operates 164 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia.