SUNBURY, Pa. — Targeted sales promotions, along with improvements in operating efficiency, drove a 97.6% increase in fourth-quarter net income for Weis Markets, the retailer said Wednesday, although earnings for the full year were down.
For the 13-week fourth quarter, which ended Dec. 27, Weis reported net income of $17 million on sales of $619.4 million. Sales improved 4.5%, and comparable-store sales improved by 2.2%. Net income for the fiscal year decreased 7.8%, to $47 million, on sales of $2.4 billion, a 4.5% increase.
“We continue to operate in a tough economic environment, which is clearly impacting our customers’ purchasing decisions,” David Hepfinger, president and chief executive officer, said in a statement. “However, we believe our continuing operational improvements along with our aggressive merchandising and marketing programs will help us to make substantial progress with our sales and profits in 2009.”
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