Weis Plans $125M in Cap-Ex

SUNBURY, Pa. — Weis Markets [4] will invest $125 million in its store growth program during fiscal 2012, including two new stores and 18 major remodels, officials said Thursday at the company’s annual meeting here.

The cap-ex plan represents a 25% increase from 2011, officials said.

SN's 2012 Top 75 page for Weis Markets [4]

David J. Hepfinger, chief executive officer of the chain, highlighted sales and net income increases during 2011 despite a rough economy, giving credit to a store-renovation program that has reached approximately two-thirds of Weis’ 159 stores.

“For the third consecutive year, we posted strong net income and operating income increases,” Hepfinger said. “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.”