Weis Markets increases capital budget by 25% to $125 million
SUNBURY, Pa. — Weis Markets on Thursday announced it will invest $125 million in its 2012 growth program, a 25% increase compared with 2011.
"Our budget includes two new stores and 18 major remodels," Weis Markets vice chairman Jonathan Weis said. "In addition, we expect to soon complete the purchase of three Genuardi's units near Philadelphia which we hope to reopen later this summer."
During a shareholders meeting held Thursday, Weis Markets president and CEO David Hepfinger reported Weis already has upgraded two-thirds of its store base over the past three years.