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 by 4.4%, and same-store sales increased by 4.9%, the retailer said. 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 occurred as the company “continued aggressive promotional activity while keeping its overall pricing competitively low during a time of significant wholesale food inflation.” For the 2007 fiscal year, Weis reported $2.3 billion in sales, an increase of 3.3%, while net income fell by 9% to $51 million, or $1.89 a share.
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