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Weis posts Q2 sales, profit gains

Weis posts Q2 sales, profit gains

Weis Markets reported a 28.4% increase in net income during the fiscal second quarter on the strength of improved sales volume.

Sales for the quarter, which ended June 27, totaled $718.4 million, an increase of 3.8% from the same period last year. Comparable store sales climbed by 4.3%.

"Our second quarter results reflect our continuing investments in sales-building strategies and disciplined promotions that helped us generate strong sales and net income increases," Jonathan Weis, chairman and CEO of the Sunbury, Pa.-based retailer, said in a statement. "During the period, our results benefited from strong unit sales growth throughout our fresh and center store departments."

Last year’s second quarter saw modest earnings as a result of heavy price investments.

Year-to-date, sales at Weis increased 3.8% to $1.4 billion, with comps also up by 3.8%.

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