by FoodBizDaily.com staff writer
February 08 2010 - Weis Markets, Inc announced today its sales increased 8.4% to $671.4 million compared to $619.4 million for the same period in 2008. The Company's fourth quarter comparable store sales increased 1.9%.
For the year, the Company's sales increased 3.9% to $2.5 billion compared to 2008. In 2009, the Company's comparable store sales increased 1.8%.
For the 52-week period ending December 26, 2009, the Company's net income increased 33.6% to $62.8 million up from $47.0 million compared to the same period a year ago.
"We continue to make progress in a difficult market environment, marked by cautious customer spending and price deflation in key categories," said David Hepfinger, Weis Markets' President and CEO. "Despite these challenges, we have produced five consecutive quarters of strong operating results through improved operating performance, more focused promotional programs and increased efficiencies at store and distribution levels."
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Weis Markets, Inc.
Address: 1000 S. Second Street P.O. Box 471 Sunbury, PA 17801
Telephone: +1-570-2864571
Fax: +1-570-2863286
About Weis Markets, Inc.
Weis Markets, Inc., is principally engaged in the retail sale of food in Pennsylvania and surrounding states. The Company's retail food stores sell groceries, dairy products, frozen foods, meats, seafood, fresh produce, floral, prescriptions, deli/bakery products, prepared foods, fuel and general merchandise items, such as health and beauty care and household products. In addition, services, such as third parties providing in-store banks, laundry services and take-out restaurants are offered at certain locations. During the fiscal year ended December 27, 2008 (fiscal 2008), groceries accounted for 54.10% % of net sales, meats, 16.08%, produce, 14.68%, pharmacy, 9.13%, pet supplies, 2.05%, and the Company's other division accounted for 3.96% of its net sales.