'Perfect Retail Storm' in Weis' Q1

Wholesale food price inflation and consumers made cautious by the economy combined to reduce profits at Weis Markets during the first quarter that ended March 29, officials of the retailer here said. The first quarter was the perfect retail storm with a combination of factors significantly impacting our gross margins, Norman S. Rich, chief executive officer of Weis, said in a statement.

SUNBURY, Pa. — Wholesale food price inflation and consumers made cautious by the economy combined to reduce profits at Weis Markets during the first quarter that ended March 29, officials of the retailer here said.

“The first quarter was the perfect retail storm with a combination of factors significantly impacting our gross margins,” Norman S. Rich, chief executive officer of Weis, said in a statement.

The retailer posted a 32.1% decline in net income to $9.1 million,

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