SUNBURY, Pa. — Weis Markets here said Monday that competitive activity increased in the first quarter.
The chain, which operates 164 stores in the Northeast and Mid-Atlantic, posted a 0.5% increase in net income for the first quarter, which ended March 30, to $20.1 million, on a 3.2% gain in sales, to $682.7 million. Comparable-store sales rose 0.8% in the period.
“We continue to make forward progress in a market impacted by a poor economy that is generating minimal job growth. These have been ongoing trends in most of the markets we serve," said David J. Hepfinger, president and chief executive officer, Weis Markets. “Our customers were also impacted in the first quarter by a tax increase and post-holiday debt. This soft sales environment spurred increased competitive activity in most of our key markets. We were able to offset these trends through disciplinedand promotional programs and improved productivity and operational efficiencies at store and distributional levels."
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