Weis Reports Third Quarter Earnings


Wed. October 26th, 2011

<p>Weis Markets, Inc. has reported a third quarter sales increase of 6.0% to $678.6 million and that its comparable store sales increased 6.5% during the thirteen-week period when compared to the same period last year. Compared to last year's quarter, Weis' net income increased 4.1% to $17.0 million. Per share, the company's third quarter earnings increased to $.63 compared to $.61 per share in 2010.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Year to Date, Weis's sales increased 2.9% to $2.0 billion, for the 39-week period ending September 24, 2011 while its comparable store sales increased 4.0%. Robert F. Weis, Weis Markets' Chairman states, "Our company continues to generate strong results in a difficult economic environment...Cautious consumer spending due to the poor economy continues to impact our business. Fuel and wholesale inflation impacted our business during the period. We absorbed a significant portion of these cost increases during the quarter and did not pass them on to our customers. Our company continues to benefit from improved operating performance and execution at store level, increased supply chain efficiencies and a disciplined and effective go-to-market strategy."</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>www.weismarkets.com</p><hr class="legacyRuler"><hr class="invisible minimal-padding">