News Watch

PROFITS DIVE AS WEIS SWALLOWS COST INCREASES SUNBURY, Pa. Profits at Weis Markets here fell by 38.6% in the fourth quarter as soaring wholesale costs outpaced retail price adjustments. Sales of $603 million for the 13-week period, which ended Dec. 29, increased 4.4%, and same-store sales increased by 4.9%, the retailer said last week. But profits as a percentage of sales tumbled to 24.7% from 26%

PROFITS DIVE AS WEIS SWALLOWS COST INCREASES

SUNBURY, Pa. — Profits at Weis Markets here fell by 38.6% in the fourth quarter as soaring wholesale costs outpaced retail price adjustments. Sales of $603 million for the 13-week period, which ended Dec. 29, increased 4.4%, and same-store sales increased by 4.9%, the retailer said last week. But profits as a percentage of sales tumbled to 24.7% from 26% in the same period a year ago. Weis in a statement said the profit decline occurre

Register to view the full article

TAGS: Walmart