Weis Markets Invests In Its Future Growth


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Tue. May 1st, 2012 - by Jordan Okumura-Wright

<p> <strong>Sunbury, PA</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Weis Markets is investing in its future progress. The company has announced that it will invest $125 million in its 2012 growth program, according to a press release. Vice Chairman Jonathan Weis and President and CEO David J. Hepfinger updated shareholders on the Company's 2011 results and its 2012 plans at the Company's annual shareholder meeting.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> The company plans to invest 25% more in the program the it did in 2011. The details include two new stores and 18 major remodels. Additionally, Weis is expecting to complete the purchase of three Genuardi's units near Philadelphia in the near future which it hopes to reopen later in the Summer. The Company is making progress in leaps and bounds, upgrading two-thirds of its store base over the past three years.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> In speaking to shareholders, Mr. Hepfinger, stated, "For the third consecutive year, we posted strong net income and operating income increases. We attribute these results to our record cap ex investments in our store base, improved efficiencies and operating discipline in the overall management of our stores, strong increases in our sales per customer and more comprehensive sales building programs during key holiday periods, particularly in the fourth quarter."</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>www.weismarkets.com</p><hr class="legacyRuler"><hr class="invisible minimal-padding">