Weis Markets reports gains in fiscal-year earnings

SUNBURY, Pa. For the fiscal year ended Dec. 26, 2009, Weis Markets posted sales gains of 3.9% to $2.5 billion on the strength of comparable-store sales increases of 1.8%, the Pennsylvania-based grocer announced Monday.

Weis also said its fourth-quarter sales increased 8.4% to $671.4 million compared with $619.4 million for the same period in 2008. The company's fourth-quarter comparable-store sales increased 1.9%. Meanwhile, the company reported diluted earnings per share of 58 cents for the fourth quarter compared with 63 cents for the same period a year ago.

"We continue to make progress in a difficult market environment, marked by cautious customer spending and price deflation in key categories," stated David Hepfinger, Weis Markets' president and CEO. "Despite these challenges, we have produced five consecutive quarters of strong operating results through improved operating performance, more focused promotional programs and increased efficiencies at store and distribution levels."

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