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%.
Syndicated data provider Symphony Health Solutions to offer weekly views of prescription activity
HORSHAM, Pa. — Symphony Health Solutions last week announced it now offers weekly views of pharmaceutical sales and prescription activity. The company launched PHAST 2.0 Institutional Weekly and PHAST 2.0 Integrated Weekly, weekly audits of U.S. institutional sales and overall market activity.
“These new weekly audits allow us to provide the most comprehensive and timely coverage of both retail prescription activity and non-retail sales,” said Don Otterbein, SVP product management and marketing, Symphony Health Solutions. “Given the rate and pace of change in the healthcare and life sciences markets, it is increasingly important for our clients to have timely and actionable market intelligence to compete effectively.”
Previously available only on a monthly basis, the two new audits give customers more timely access to institutional and prescription market data. Pharmaceutical manufacturers and financial analysts can use the data to monitor drug launches and the activity of competitive drugs in the marketplace. In addition, the integrated audit has been enhanced with additional data on specialty drugs in a number of areas including oncology, rheumatoid arthritis and HIV.
PHAST 2.0 Integrated Weekly gives a combined view of retail pharmacy activity together with non-retail institutional sales to provide a comprehensive view of the market, SHS reported. PHAST 2.0 Institutional Weekly offers a view of pharmaceutical product sales to institutions, such as hospitals, clinics and long-term care facilities.
Snyder’s-Lance to sell Private Brands, acquire Baptista’s Bakery
CHARLOTTE, N.C. — Snyder’s-Lance — whose products include Lance, Cape Cod and Snack Factory Pretzel Crisps, among others — announced that it will sell Private Brands along with two manufacturering faclitites to Shearer’s Foods, a private-label snack provider headquartered in Massillon, Ohio. The sales prices is $430 million. This agreement will allow Snyder’s-Lance to place greater emphasis on its branded products, the company said.
"This transaction is an important step forward for Snyder’s-Lance as we dedicate our attention to our branded portfolio," said Carl E. Lee, Jr., president and CEO. "Over the past several years, we have been building operational and branded capabilities which provide an exceptional platform for accelerating growth. Private Brands has performed well over that time and is now in a position where a new, private brands centric owner can build on this momentum and take it to new levels."
The company also announced that it will acquire Baptista’s Bakery, which specializes in baked snack foods. Snyder’s-Lance said this transaction will also help the company better focus on its branded products in growth categories. Under the terms of the agreement, Snyder’s-Lance will acquire 100% of Baptista’s Bakery and its manufacturing facility.
"Baptista’s is a leader in highly differentiated snacks, and we’re excited to be working with their talented, creative team," Lee, Jr. said. "Baptista’s is a company that has excelled in providing exceptional product quality and innovation while commercializing production in ways that are effective and unique. The team at Baptista’s is strong and dedicated, with many new product ideas which will be an excellent pairing for our brands. Our culture and values fit well with those of Baptista’s which are focused on a dedication to employees and to the community.