Finishing up its fiscal 2017 year on a high note, Weis Markets celebrated record sales, including a 2.2% increase in the fourth quarter alone.
"In 2017, we achieved record sales of $3.5 billion and generated our 15th consecutive quarter of increased comparable store sales. During this time, we also worked to efficiently integrate 44 newly acquired stores," said Jonathan Weis, Chairman and Chief Executive Officer, in the financial release. "We have done much to position our company for future profitable sales growth."
Highlights for the company’s 13 week fourth quarter, which closed on December 30, 2017, included:
Approximately $1.8 million of the difference was due to the additional week in 2016, according to the release, while the remainder of the difference in operating income was due to the company's promotional programs and price investments, continued retail deflation combined with cost inflation and assimilation of 44 stores acquired in 2016.
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