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, officials of 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, or 34 cents per ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive complimentary access to the SN salary survey data tables.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.