Weis Q1 Earnings Rise on Productivity Improvements

SUNBURY, Pa. — Weis Markets [1] said Thursday that net earnings improved 7.7% to $20 million in its fiscal first quarter behind increased store productivity and cost controls. Sales for the 13-week period, which ended March 31, increased 0.3% to $661.6 million. Comparable-store sales improved by 0.9%.

Weis attributed improved store level efficiencies, increased productivity, disciplined promotions and a decrease in depreciation expenses for improving its profits while milder winter weather and a slow economic recovery affected sales.

“Our company continues to generate strong earnings increases, as we have over the past three years,” Weis Markets’ President and Chief Executive Officer David J. Hepfinger said in a statement. “While our market share remains stable, our first-quarter sales were clearly impacted by our customers’ continuing caution due to the slow pace of the economy’s recovery and to an unusually mild winter.”