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Weis Markets reports strong third quarter results

Weis Markets Inc. reported its third quarter sales increased 1.7 percent to $869.1 million compared to the same period in 2017, while third quarter comparable store sales increased 0.7 percent. During the thirteen-week period ended September 29, 2018, the Company’s net income increased 219.3 percent to $14.2 million compared to $4.4 million in 2017 while third quarter earnings per share increased $0.37 to $0.53 per share.

In the third quarter, the Company’s income before income taxes increased 172 percent to $18.6 million. The Company attributed this increase to improved efficiencies in the stores it acquired in 2016, price optimization improvements and improved store-level inventory management. In addition, disciplined fresh department sell-through compared to the same period last year yielded improved results.

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