SUNBURY, Pa. — Weis Markets here said its third-quarter sales were negatively impacted by unfavorable comparisons with a storm-influenced surge in grocery shopping a year ago.
For the 13-week period that ended Sept. 29, Weis said its sales were down 1.5%, to $668.4 million, and comparable-store sales were down 1.7%. In addition to the impact from the storms last September, Weis also said sales were negatively impacted by a $4.5 million decline in pharmacy sales due to the conversion of brand drugs to generics.
Net income for the period was up 1.2%, to $17.2 million, and operating income was up 1.3%, to $26.5 million. The profit gains were attributed to a “continuing focus on disciplined promotions and marketing, increased store-level productivity, improved operational and supply chain efficiencies,” and a change in the way the company records certain depreciation expenses.
More news: Weis Names Stroeing New CIO
For the 39-week period, sales totaled $2.01 billion, down 0.4%, and comparable-store sales decreased 0.2%. Net income increased 7.3% year-to-date, to $60.4 million
|Suggested Categories||More from Supermarketnews|