SUNBURY, Pa. — Weis Markets plans to spend around $80 million in capital over the next 12 months, with three-quarters of the total going toward its store base, officials said Wednesday at the retailer’s annual meeting here. The cap-ex program represents an increase of 23% over fiscal 2007, when Weis spent $64.2 million. The company said it has 19 projects in various stages, including three new stores, two replacement units, nine additions and five remodels. Norman Rich, chief executive officer, said disparity between wholesale and retail price inflation contributed to profits that fell below company goals in 2007. “In this current market environment, we are cautious about passing on price increases to our customers,” he said in a statement. Weis previously reported annual earnings of $51 million — a decline of 9% — on sales of $2.3 billion in fiscal 2007, which ended Dec. 29.
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