SUNBURY, Pa. â€” Higher inventory losses, aggressive promotions and increased labor costs took a toll on the first-quarter earnings of Weis Markets here, the company said yesterday. Net income for the 13-week first quarter, which ended March 31, was down 10.3%, to $13.4 million, compared with year-ago results, despite a 4.4% increase in sales for the period, to $571.8 million. Same-store sales also rose 4.4% for the first quarter. The company said it was rolling out programs to improve ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
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 a complimentary copy of SN's salary survey sent to you by email.
Click here to read the FAQ page if you have any questions (opens in a new window)
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.