From staff reports
BURNHAM - Weis Markets Inc. has reported its second quarter sales increased 3.5 percent to $676.7 million, compared to $653.7 million in 2010, and comparable store sales for the period increased 5.1 percent, according to a press release from the company.
For the 13-week period ending June 25, 2011, Weis' net income increased 0.9 percent to $20.7 million compared to $20.5 million in 2010, while earnings per share increased to 77 cents per share compared to 76 cents in 2010, the release states.
The company attributes its sales increases to grand openings in three key markets, successful sales building programs, operational improvements at store level and improved administrative expense management, according to the release.
"One year ago, we generated record earnings in the second quarter when our company posted a 35 (percent) increase in net income. We have now improved upon those results while posting strong sales and comparable store sales gains," Weis Markets' President and CEO David J. Hepfinger said in the release.
"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," Hepfinger continued.
For the 26-week period ending June 25, 2011, Weis Markets' sales increased 1.4 percent to $1.34 billion while its comparable stores increased 2.8 percent. Year-to-date net income rose 3.7 percent while earnings per share increased 3.5 percent to $1.46 per share, the release states.
Weis Markets operates 163 stores in Pennsylvania, Maryland, New York, New Jersey and West Virginia. Locally, Weis manages stores in Burnham and Mifflintown. For more information visit www.weismarkets.com.