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Weis Markets Posts 11.9 Pct. Third Qtr. Gain

SUNBURY, Pa. -- Weis Markets Inc. here said third quarter net income increased 11.9 percent to $13.7 million, on sales increases of 3.2 percent to $535.3 million, and a comparable store sales gain of 3.3 percent.

The supermarket chain's earnings per share in the 13-week period ended Sept. 24, 2005 were up 13.3 percent, to $.51 per share from $.45 per share

Year-to-date, Weis Markets' net income increased 7 percent to $45.1 million, while earnings per share increased 7.7 percent to $1.67 per share. Year-to-date sales were up 3.9 percent to $1.6 billion, and same store sales were up 3.7 percent.

Weis officials said the third quarter performance includes sales growth in a number of center store categories and perishable departments, particularly produce. The company also said its fuel and utility costs were up significantly compared to the same period a year ago.

The chain added it continues to see exorbitant increases for its credit and debit interchange fees, due to substantial rate hikes and higher customer usage of cards for payment.

Weis Markets operates 157 stores in Pennsylvania, Maryland, New Jersey, New York, Virginia and West Virginia. It also owns SuperPetz, a pet supply superstore chain with 32 units in eleven states.
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