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.”
Read More of Today's Headlines
