SUNBURY, Pa. — Weis Markets on Wednesday reported third-quarter sales of $678.6 million, an increase of 6%. Comparable-store sales increased 6.5% during the thirteen-week period ended Sept. 24.
"Our company continues to generate strong results in a difficult economic environment," stated Robert Weis, Weis Markets' chairman. "Cautious consumer spending due to the poor economy continues to impact our business, [and] fuel and wholesale inflation impacted our business during the period."
"We absorbed a significant portion of these cost increases during the quarter and did not pass them on to our customers," Weis added. "Our company continues to benefit from improved operating performance and execution at store level, increased supply chain efficiencies and a disciplined and effective go-to-market strategy."
During the period, the grocer's net income increased 4.1% to $17 million compared with the same period a year ago. The company's third-quarter earnings per share increased to 63 cents per share compared with 61 cents per share in 2010.