Weis Scores Q1 Gains on Holiday Sales, Marketing Improvements

Weis Markets' sales and earnings improved in its fiscal first quarter, helped along by the Easter holiday and improved marketing and advertising programs.

The Sunbury, Pa.-based retailer's revenues for the period ended March 31 increased 2.8% to $876 million, while same-store sales improved by 1.5%. Sales were helped by Easter holiday sales falling in the first quarter this year vs. the second quarter a year ago.

The comparable-store sales increase marked the 16th consecutive quarter of comp improvements for Weis, a streak dating back to the second quarter of fiscal 2014.

Net income for the period increased 36.8% to $16.2 million, while earnings per share of 60 cents increased 36.4%. Operating income increased 12.8% to $22.8 million.

In a statement, CEO Jonathan Weis said operating income was positively impacted by improvements in efficiency, particularly with inventory management, which resulted in an improved store gross profit rate and comp increases. “Our operating income also benefited from store labor efficiencies, in which multiple winter weather events were a contributing factor, and improvements to some of our key marketing and advertising programs. We look to build on our momentum in the coming months.”