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.
