Weis sales jump 20% in Q2

Comp sales return to form after holiday hiccup

Weis Markets Inc. finished the second quarter ending July 1 with $876.6 million in sales, a 20% climb from the second quarter of 2016.

Net income rose 21% hitting $18.5 million, while operating income also increased 15.2% to $27.7 million.

This served as a bounce back for the grocer after a 41.2% decline in the first quarter. At the time, the slow start to the year was blamed in part on the Easter and New Year holiday shift when compared to how each fell in 2016.

Another result of the holiday shuffle was a .9% dip in comp sales last quarter. When adjusted for scheduling changes, Weis would have seen this metric rise by 1.1%.

Based off that logic, Weis Chairman and CEO Jonathan Weis declared the second quarter of this year as the thirteenth consecutive quarter with rising comps.

Same store sales during the second quarter rose 2.7%.

"During this period our sales and net income benefited from the strong performance of our pharmacy and deli-food service departments, sustained and varied promotions throughout our seven state market area and increased store level efficiencies and expense controls,” Weis said in a prepared statement.

Based in Sunbury, Pa., Weis has 204 stores across the Mid Atlantic. They can be found in Pennsylvania, Maryland, Delaware, New Jersey, New York, Virginia and West Virginia.

Contact: [email protected]

Twitter: @DanAMX

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