Lactose-Free Bries
If you have the sandwich, we have the sauce.
Weis Markets Reports 15th Consecutive Quarter of Sales Growth, Jonathan Weis Comments

Weis Markets Reports 15th Consecutive Quarter of Sales Growth, Jonathan Weis Comments


SUNBURY, PA
Wednesday, May 9th, 2018

Weis Markets clearly knows what it's doing—the retailer is reporting increased profits for the fifteenth straight quarter. This news comes on the heels of its recent announcement of a $101 million investment plan, as we reported on our sister site, AndNowUKnow. It revealed its results for first quarter fiscal 2018, showing improved sales, earnings per share, and net income.

Jonathan Weis, Chairman & CEO, Weis Markets“Our operating income was positively impacted by store improvements in overall efficiency levels, particularly with inventory management, which resulted in an improved store gross profit rate and our 15th consecutive quarter of comparable store sales increases,” said Jonathan Weis, Chairman and Chief Executive Officer, in a press release.

Highlights from Weis Markets’ first quarter include:

  • Sales increased 2.8 percent to $876.1 million compared to the same period in 2017
  • Comparable store sales, adjusted for the holiday shift, increased 1.5 percent
  • Net income increased 36.8 percent to $16.2 million compared to $11.8 million for the same period in 2017
  • Earnings per share increased 36.4 percent to $0.60 compared to $0.44 in 2017
  • Operating income increased 12.8 percent to $22.8 million

“Our operating income also benefited from store labor efficiencies, in which multiple winter weather events were a contributing factor, and improvements to some of our key marketing and advertising programs. We look to build on our momentum in the coming months,” noted Weis.

Stick with Deli Market News for more industry happenings!

Weis Markets
Topics:


Lactose-Free BriesIf you have the sandwich, we have the sauce.

Have a new product, press release or story idea?

Let us know

What a Chicken Wants: Windows, Wing Space, Outdoor Living, and More

Perdue Farms goes beyond the status quo and leads the way to enhance animal welfare standards.
View Press Release

Quick Access to Organic Commodity Prices Made Possible by Mercaris Partnership with DTN

DTN’s ProphetX solution will offer organic commodities data with The Mercaris Report.
View Press Release

Vienna® Beef Celebration Marks 125 Years as Chicago’s Favorite Hot Dog

Iconic hot dog brand welcomes governor and community for a Chicago-Style party.
View Press Release

Moo've Over, Yogurt: Kansas State University Students Win First Place in Dairy Council's New Product Competition

A new creamy protein-rich dairy drink has Kansas State University success written all over it.
View Press Release

Inc. Magazine Unveils Its 37th Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000

For the 8th Time, Hissho Appears on the Inc. 5000, Ranking No. 3893. With Three-Year Revenue Growth of 91.7 Percent
View Press Release

WCMA Adds Staff as Member Services Expand

The association has welcomed Sara Schmidt as its new Office and Member Service Coordinator, working to support WCMA’s expanded array of benefits to member organizations.
View Press Release

Now It's Official! Flow is a Business Doing Good

BeeInventive, the company behind the multiple award-winning “honey on tap” FlowHive, is now a Certified B CorporationⓇ.
View Press Release

Hissho Among 2018 Middle Market Leaders

Hissho has just been named #8 among the 2018 Middle Market Leaders honorees by Charlotte Business Journal.
View Press Release

Halton Group Acquires U.S. Indoor Air Equipment Manufacturer

The acquisition makes the company a part of Halton's Foodservice business that specializes in professional kitchen environments.
View Press Release