Q1 Sales Up at Weis Markets
Weis Markets Inc. reported first-quarter 2013 sales of $682.7 million, a 3.2 percent increase over the same period last year, 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 year-ago period, while its diluted earnings per share increased a penny to 75 cents per share.
"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 Hepfinger, Weis Markets president and CEO. "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, Sunbury, Pa.-based Weis Markets operates 164 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia.