Weis Markets reports Q1 sales of $687.1 million

SUNBURY, Pa. — Weis Markets on Wednesday reported $687.1 million in sales, up 0.6%, for the 13 weeks ended March 29. Comparable store sales were down 1.3% compared to the same period a year ago.

The company's results were impacted by timing of the Easter holiday, which was observed in the first quarter of 2013 and the second quarter of 2014.

"We have met our first quarter sales goals. Adjusted for the Easter holiday shift, our sales increased 1.7% despite price reductions on thousands of items," said Jonathan Weis, president and CEO of Weis Markets. "We achieved our sales goal by reinvesting in sales through our Three More Ways to Save program, which has generated higher per customer sales and an increase in center store unit sales. These reinvestments are a key part of our long-term strategy to generate increased sales and market share."

During the period, Weis generated earnings per share of $0.55 compared to $0.75 per share in 2013. The company's first quarter net income totaled $14.8 million compared to $20.1 million in 2013, down 26.6%.

 

 

 

 

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