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Weis Markets tallies its highest sales ever in fiscal 2021

Fourth-quarter same-store sales rise nearly 7%, with two-year growth topping 20%

Russell Redman

March 9, 2022

3 Min Read
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Weis Markets also said its fiscal 2021 net income was second only to fiscal 2020 net earnings in company history.Weis Markets

Fueled by a strong fourth quarter, Weis Markets totaled record sales in fiscal 2021, surpassing its previous record set amid COVID-driven consumer demand a year ago.

In the quarter ended Dec. 25, net sales climbed 8% to nearly $1.11 billion from about $1.03 billion a year earlier, Sunbury, Pa.-based Weis Markets reported. That built on a 13.7% net sales gain in the fiscal 2020 quarter.

Same-store sales rose 6.9% (4.9% excluding fuel) in the 2021 fourth quarter and were up 21% (19.8% excluding fuel) on a two-year stack. Weis Markets said that comparable sales growth in the quarter also advanced sequentially, up from a 4.6% increase (19.4% over two years) in the third quarter.

Fiscal 2021 net sales came in at $4.22 billion — the highest in Weis Markets’ history — and gained 2.7% from fiscal 2020’s $4.11 billion, the second-highest total in company history, the regional grocer said. Comp-store sales for the full year edged up 1.7% (0.2% excluding fuel) from a 16.4% increase in 2020, for two-year growth of 18.1% (17.7% excluding fuel).

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Chairman and CEO Jonathan Weis said 2021 fourth-quarter and fiscal-year results 'significantly exceeded pre-pandemic levels and our original expectations.'

“We are proud and grateful for the contributions of our resilient team of associates who adapted to the challenges of supply chain disruptions, a tight labor market and inflationary pressures. Our associates effectively served our customers and delivered strong financial results for the fourth quarter and fiscal year 2021 that significantly exceeded pre-pandemic levels and our original expectations,” Chairman, President and CEO Jonathan Weis said in a statement.

Related:Weis Markets kicks off DoorDash delivery

“As a retailer that benefitted from our customers’ increased food-at-home consumption because of the COVID-19 pandemic, we note that the last two fiscal years of net sales and income from operations were the first- or second-highest in our company’s 110-year history,” Weis noted.

On the earnings side, Weis Markets posted 2021 fourth-quarter net income of $22.6 million, or 84 cents per share, up 16.4% from $19.4 million, or 73 cents per share, in the year-ago period. Full-year 2021 net earnings totaled $108.8 million, or $4.05 per share, down 8.5% from $118.9 million, or $4.42 per share, in fiscal 2020. The supermarket chain noted that fiscal 2021 net income was the second-highest in company history, behind only the fiscal 2020 total.

The fiscal 2021 gains will help drive Weis Markets’ expansion and ongoing store and technology upgrades, among other capital expenditures, according to Weis.

“The working capital from this positive momentum positions us well for the future to execute our long-term strategy to prudently reinvest for profitable growth,” he stated.

Related:Sales at Weis Markets bounce back in Q3

During 2021, Weis Markets upped its capital spending and earmarked more than $150 million toward the openings of four new and relocated stores and eight fuel centers, 13 store remodels and over 1,000 store improvement projects that sharpened operational efficiency and enhanced the customer experience.

Weis Markets closed out fiscal 2021 with 197 stores — the same as a year ago — in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia.

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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