Weis 3Q profits down; investments spark sales

Weis 3Q profits down; investments spark sales

Weis Markets on Monday said net income declined by 16.9% in the fiscal third quarter as the retailer absorbed costs associated with the acquisitions of Food Lion and Mars Super Market stores, as well as sales-driving initiatives to offset deflation.

Sales of $743 million in the quarter increased by 4.4%, and comparable-store sales were up by 2.7%. The 13-week period ended Sept. 24. Net income of $10.6 million was down from $12.8 million in the same period last year, primarily due to

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