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Weis Markets Says Lowering Prices is Boosting Sales

The regional grocer reported an 8.4% jump in same-store sales during the second quarter, despite inflationary pressures.

Heather Lalley, Managing editor

August 2, 2022

1 Min Read
Weis Markets
Photo courtesy Weis Markets

Expanding its value-focused messaging appears to be paying dividends for Weis Markets.

The Sunbury, Pa.-based grocer reported an 8.4% increase in same-store sales for the second quarter ended June 25, and a 2.6% increase on a two-year stacked basis for the period.

It’s a slight dip from the first quarter in which same-store sales rose 9.4%.

Weis’ net sales totaled $1.14 billion during the quarter, slightly higher than the $1.05 billion for the same period in 2021.

Net income rose 8.3%, to $36.27 million, over the second quarter last year.

In May, Weis made a multi-million-dollar investment to expand its “Low, Low Price” value program, dropping the prices on hundreds of brand-name and private label frozen products, the company said in a statement.

“We are also mindful of inflation’s impact on our customers and continue to promote the value of our private brands along with the fuel and retail product savings through our Weis Rewards program,” President and CEO Jonathan Weis said in a statement.

For the year, Weis’ net sales are up 9%, to $2.24 billion, compared to the same period a year ago. Year-to-date same-store sales are up 8.9% year over year and 6.5% on a two-year stacked basis.

Year-to-date net earnings have increased 17.2% over last year, totaling $67.66 million.

In April, Weis announced it would invest $150 million in building four new stores, along with remodels, fuel centers, information technology upgrades and other store improvement projects.

Weis Markets operate 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia.

 

 

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About the Author

Heather Lalley

Managing editor

Heather Lalley is the managing editor of Restaurant Business, Foodservice Director and CSP Daily news. She previously served as editor in chief of Winsight Grocery Business.

Before joining Winsight and Informa, Heather spent nearly a decade as a reporter for the daily newspaper in Spokane, Washington. She is the author of "The Chicago Homegrown Cookbook." She holds a journalism degree from Northwestern University and is a graduate of the two-year baking and pastry program at Washburne Culinary Institute in Chicago.

She is the mother of two and rarely passes up a chance to eat tater tots.

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