SUNBURY, Pa. — Wholesale food price inflation and consumers made cautious by the economy combined to reduce profits at Weis Markets during the first quarter that ended March 29, the retailer here said. “The first quarter was the perfect retail storm with a combination of factors significantly impacting our gross margins,” Norman S. Rich, chief executive officer of Weis, said in a statement. The retailer posted a 32.1% decline in net income to $9.1 million during the 13-week quarter on sales of $595.7 million, an increase of 4.2% from the same period last year. Rich said that wholesale costs increased faster than retail shelf prices, as Weis maintained aggressive pricing and promotional programs.
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