At the company’s annual shareholder meeting Thursday, April 25, the chairman and CEO of Weis Markets announced plans for $109 million in capital investments in 2019.
Jonathan H. Weis said the plan includes new stores, remodels, supply chain improvements and continued information technology upgrades.
“As part of our company’s commitment to long-term growth, we will invest roughly $109 million in our store base and support areas,” Weis said at the meeting in Sunbury, Pennsylvania, where Weis Markets is based. “This includes a new store in Bedminster, Pennsylvania, as well as 14 store remodels, six fuel centers, supply chain and information technology investments.”
Weis said his company’s sales increased to a record $3.5 billion in 2018, with comparable store sales having increased 18 of the past 19 quarters. The company’s income from operations also increased by 9.4 percent year over year.
Jonathan Weis attributed Weis Markets’ progress to its store base and information technology investments. He also said its sales and operating income benefited from targeted holiday promotions through its loyalty marketing program, price optimization improvements and more efficient store-level inventory management.
Also, Weis updated shareholders on the company’s e-commerce initiatives and the expansion of its Weis 2 Go Curbside Pick-Up Service.
“Our e-commerce investments helped generate a 33.2 percent increase in our online sales,” Weis said. “Today, we offer online ordering with curbside pickup in 125 stores while 174 of our stores offer home delivery via Shipt, a leading online delivery service. Online ordering is a growing segment of our business that we expect to grow exponentially in the coming years.”
He also said Weis Markets is celebrating the 10th anniversary of its award-winning sustainability program, designed to minimize its overall impact on the environment.
“Over the past 10 years, our team has made considerable progress with our sustainability program, far exceeding our initial expectations,” Weis said. “In 2015, we met our 2020 goal of reducing our total carbon emissions by 20 percent compared to 2008, five years ahead of schedule; we look forward to building on our progress in the years ahead.”