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Weis Markets enters post-pandemic era with renewed hope

Q4 and 2023 fiscal year results show promise

Bill Wilson, Senior editor at Supermarket News

February 28, 2024

1 Min Read
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In mid-November, Amazon announced it was offering Weis Markets same-day grocery delivery in additional cities.Weis Markets

Weis Markets produced a mixed bag of results for the fourth quarter, but it likes where it is headed.

Net sales for Q4 came in at $1.21 billion, which is a 7.1% decrease year over year. Comparable store sales, adjusted for the added week in 2022 and excluding fuel, went up 0.2% year over year.

Net income for the fourth quarter totaled $20.52 million, which was down 28.9% year over year.

For all of 2023, net sales were $4.7 billion, which matched 2022’s total of $4.7 billion but came in at a 0.2% year-over-year increase when factoring in the extra week. 

Comparable store sales, adjusted for the longer 2022 and excluding fuel, were up 2.3% year over year.

“In 2023, we continued to make significant price investments that help us to effectively compete in all of our markets and meet the expectations of our customers impacted by the inflationary pressures of recent years,” said Weis Markets, Inc. Chairman, President, and CEO Johnathan Weis. “In addition, we carefully managed our business processes and expenses at every level of our company and invested in technologies that improved efficiencies.”

In mid-November, Amazon announced it was offering Weis Markets same-day grocery delivery in additional cities across New Jersey, Virginia, Pennsylvania, and Maryland. Amazon also integrated the first-ever loyalty program with Weis Rewards, which allows new and existing customers to turn groceries into savings at the Weis Markets in-store register or at the pump.

Weis Markets, headquartered in Sunbury, Pa., operates 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia, and Virginia.

 

About the Author

Bill Wilson

Senior editor at Supermarket News

Bill Wilson is the senior editor at Supermarket News, covering all things grocery and retail. He has been a journalist in the B2B industry for 25 years. He has received two Robert F. Boger awards for his work as a journalist in the infrastructure industry and has over 25 editorial awards total in his career. He graduated cum laude from Southern Illinois University at Carbondale with a major in broadcast communications.

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