Weis Cites Targeted Promos, Pricing in Q4 Gains

Targeted holiday promotions through its loyalty program—along with improvements in store efficiencies and effective price-optimization programs—helped Weis Markets drive increases in sales, comps and earnings during its fiscal fourth quarter.

For the 13-week period ending Dec. 28, 2019, sales improved by 1.1% to $902.4 million and comps improved by 1.4%. Net income for the period increased by 42.6% to $18.9 million, or 70 cents per share.

For the fiscal year, the Sunbury, Pa.-based retailer saw a 1% sales increase to $3.5 billion and comps of 1.5%. Income from operations increased by $2 million, or 2.4%, to $84.6 million over the same period in 2018. Net income for the year was up by 8.4% to $68 million, or $2.53 per share.

“We made significant forward progress in 2019 by driving sales with targeted merchandising and marketing programs, significant price investments and improved in-store execution, which sustains our growth program,” Chairman and CEO Jonathan Weis said in a statement.

The company during the fiscal year also expanded online ordering with in-store pickup and home delivery to 184 of its 197 stores, resulting in more than 250,000 orders and a 115.4% increase in online sales.