Weis Markets late Thursday said improved assortments and promotions triggered a 2.8% sales increase and earnings improved 21% on cost controls during the fiscal fourth quarter.
The Sunbury, Pa.-based retailer reported net earnings of $16.6 million on sales of $734.1 million for the 13-week period ended Dec. 26. Comparable-store sales improved by 2.8%. Operating income improved by 25.4% to $25.8 million.
For the fiscal year, Weis earned $59.3 million, a 9.1% increase, on a 3.6% sales increase to $2.9 billion.
"In 2015, our overall results benefited from strategic pricing investments and the ongoing improvement of our store assortments by market," Jonathan Weis, chairman and CEO, said in a statement. "In addition, improved store level, supply chain and store support efficiencies helped us deliver a better customer experience, which helped us increase customer traffic and our overall market share."
Weis said it was unable to file its 10-K annual report with the Securities and Exchange Commission due to delays resulting from a reassessment of self-insurance reserves that also delayed its third-quarter financial statements.
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