Weis Markets Q2 earnings drop from pricing initiatives

Weis Markets Q2 earnings drop from pricing initiatives

Weis Markets, Sunbury, Pa., said pricing investments resulted in a drop in earnings for the second quarter and first half ended June 28.

Net income for the 13-week quarter declined 47.1% to $24.2 million, while sales increased 4.5% to $691.9 million and comparable store sales rose 2.9%. For the half net income dropped 37.8% to $27.6 million, while sales rose 2.5% to $1.4 billion and comps increased 0.8%.

According

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