SUNBURY, Pa. -- Weis Markets here reported its sixth consecutive quarterly sales and earnings increase in the period ended Sept. 30.
For the third quarter, sales increased 7.3% to $404.6 million. Earnings rose 2.4% to $19.2 million. For the 39 weeks, sales at the 150-store chain rose 8.2% to $1.2 billion, while earnings increased 5% to $56.6 million.
"Weis Markets has had a strong third quarter during a time of sluggish growth for retailers across the nation and tremendous competition in our marketing area," said Robert F. Weis, chairman.
"These are particularly encouraging results when you consider we are currently investing $105 million in the most aggressive expansion program in company history and expect to increase that investment in the coming year."
During the third quarter the company opened stores in Pottstown and Stroudsburg, Pa., and Frederick, Md. In the fourth quarter Weis expects to open stores in Lewisburg, State College and Lewistown, Pa. This expansion would give the company nine store openings and nine remodels in fiscal 1995.
In fiscal 1996 Weis expects to build 15 stores and extensively remodel four others. The company has already disclosed plans to build superstores in East Stroudsburg, Mechanicsburg and Wellsboro, Pa., next year, as well as Laurel, Md.
The company also declared a dividend of 21 cents per share for shareholders of record during the third quarter, payable Nov. 24.
Weis also said Dayton, Ohio-based SuperPetz, its 80%-owned subsidiary, continued its aggressive growth program, opening four pet supply superstores during the quarter. The chain now operates 30 stores in seven states.
