Holiday Timing Clips Weis Comps in Q2

Timing of the Easter and Fourth of July holidays contributed to a slower sales pace for Weis Markets in its fiscal second quarter, resulting in a quarterly decline in comparable-store sales for the first time in more than four years.

The Sunbury, Pa.-based retailer said sales for the period, which ended June 30, totaled $871.1 million, a 0.6% decline from the same period last year. Comps fell by 0.3%, snapping a streak of 16 consecutive periods of quarterly same-store sales increases.

Weis said calendar issues played a role in the slower sales, with the Easter holiday falling in the first quarter this year vs. the second quarter a year ago. Weis also generated less sales in the run-up to the fourth of July holiday than in last year’s second quarter. Weis management estimates that shifted about $12.5 million in sales to the current third quarter.

Over the first two quarters of the year, sales are up by 1.1% to $1.7 billion and comps are up by 0.7%.

Net income in the period increased by 3.4% to $19.1 million, or 71 cents per share.

Weis operates 206 stores in Pennsylvania, New Jersey, New York, Maryland, Delaware, Virginia and West Virginia.