Weis Markets Plans $90M CapEx in 2017
Mid-Atlantic supermarket chain Weis Markets plans to invest $90 million in its growth during 2017, including new stores, remodels, supply chain improvements and continued information technology upgrades.
The budget includes 14 remodels, a new unit in Brunswick, Md., two fuel centers and the continued expansion of the company’s distribution center in Milton, Pa., Chairman and CEO Jonathan Weis said at the Sunbury, Pa.-based retailer’s recent annual shareholder meeting. “We also have seven new stores in the active planning stages and expect most of them to open in 2018,” Weis said.
Last year, the company acquired and converted 44 stores within three months, growing its store base by more than 20 percent. “As a result of our acquisition, we now operate 204 stores and expanded operations into two new states, adding Delaware and Virginia to our now seven state territory throughout the Mid-Atlantic region,” Weis said.
The company’s legacy stores continued to perform at a high level in 2016, helping to boost overall sales 6.9 percent to $3.1 billion, while comparable-store sales increased 2.9 percent, marking 11 consecutive quarters of same-store gains, Weis noted, adding, “We are proud of our team — 23,000 associates strong — who made our success possible.”.
Founded in 1912, Weis Markets Inc.operates 204 stores in Pennsylvania, Maryland, New Jersey, Delaware, New York, Virginia and West Virginia.