Weis Markets Names SVP of Legal Affairs and Real Estate
Weis Markets has promoted Jack O’Hara to the role of SVP of legal affairs and real estate. In his new position, O’Hara is responsible for the strategic leadership and oversight of the day-to-day operations of the company’s real estate and legal teams. He reports to Jonathan Weis, the company’s chairman, president and CEO.
O’Hara joined Weis Markets as real estate manager in 2006 and was later promoted to director of real estate. In 2012, he became VP of legal affairs and real estate, the role he held prior to his latest promotion. Earlier in his career, O’Hara worked in real estate and development positions for Citi Trends, Variety Wholesalers and Woolworth Corp.
As reported by Progressive Grocer in February, Weis Markets’ sales declined in its fourth quarter. Net sales totaled $1.21 billion for the 13-week period ended Dec. 30, compared with $1.31 billion for the 14-week period ended Dec. 31, 2022, down 7.1%. Fourth-quarter comparable-store sales, adjusted for an additional week in 2022 and excluding fuel, slightly increased 0.2% on an individual year-over-year basis, but grew 9.8% on a two-year stacked basis. The company’s fourth-quarter net income (after provision for income taxes) totaled $20.52 million, compared with $28.88 million in 2022, down 28.9%. Fourth-quarter earnings per share totaled 76 cents, compared with $1.07 per share in 2022.
For fiscal year 2023, Weis Markets’ net sales remained virtually unchanged, totaling $4.70 billion, as opposed to last year’s $4.70 billion, up 0.02%, according to the company. Fiscal year 2023 comps, adjusted for an additional week in 2022 and excluding fuel, increased 2.3% on an individual year-over-year basis and jumped 9.8% on a two-year stacked basis. The company’s fiscal year 2023 net income (after provision for income taxes) totaled $103.83 million, compared with $125.20 million in 2022, down 17.1%. Fiscal year 2023 earnings per share totaled $3.86. Last year, it was $4.65 per share.
Sunbury, Pa.-based Weis Markets operates roughly 200 stores in Pennsylvania, Delaware, Maryland, New Jersey, New York, Virginia and West Virginia. The company is No. 60 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America.
