Q2 sales gain momentum at Weis
SUNBURY, Pa. — Weis Markets on Monday reported its second-quarter sales increased 3.5% to $676.7 million, while its comparable-store sales for the period increased 5.1%.
For the 13-week period ended June 25, the company's net income increased 0.9% to $20.7 million, compared with $20.5 million in 2010, while earnings per share increased to 77 cents, compared with 76 cents in 2010.
Weis attributed its sales increases to grand openings in three key markets, successful sales building programs, operational improvements at store level and improved administrative expense management.
"One year ago, we generated record earnings in the second quarter when our company posted a 35% increase in net income,” Weis president and CEO David Hepfinger said. “We have now improved upon those results while posting strong sales and comparable-store sales gains," he said. "We continue to invest in our growth through the upgrade of our store base and disciplined sales-building programs, which have helped us achieve our results. We also continue to benefit from improved productivity and efficiencies at store and distribution levels."