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Weis Markets notches 14% third-quarter sales gains

Mid-Atlantic grocer sees net earnings more than double

Russell Redman

November 4, 2020

3 Min Read
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On a comparable basis, online sales surged by a record 160% during the quarter, Weis Markets said.Weis Markets

Weis Markets saw net and same-store sales rise by double digits, including a record gain in online sales, and net income surge over 118% for its fiscal 2020 third quarter.

For the quarter ended Sept. 26, net sales climbed 14.4% to $1 billion from $876.2 million a year earlier, Weis Markets reported this week. Comparable-store sales jumped 14.8% year over year, and digital sales skyrocketed, rising 160%.

At the bottom line, net earnings in the third quarter totaled $31.3 million, or $1.16 per share, compared with $14.3 million, or 53 cents per share, a year ago.

The strong sales and earnings gains reflect the ongoing market impact of the coronavirus pandemic, according to Jonathan Weis, chairman and CEO of Sunbury, Pa.-based Weis Markets.

“Our sales and current demand continue to be impacted by a significant number of people working remotely, often with children attending school the same way, which results in more at-home meals,” Weis said in a statement. “Our customers have also adjusted the way they shop, making fewer trips to our stores but buying larger orders. Additionally, our e-commerce sales continue to grow at a record rate.”

Weis noted that the supermarket chain and its employees continue to adapt to the changes brought by COVID-19, including measures to keep stores safe and well-stocked. Regarding the latter, he reported that Weis Markets has taken steps to ensure sufficient inventory to serve customers during the upcoming holiday season.

Related:Weis Markets reports second-quarter sales surge

“We’ve adjusted to meet this increased demand with agile procurement, consistent in-stock conditions, disciplined marketing and pricing programs and accelerated replenishment schedules,” Weis explained. “Over the past seven months, our associates have adapted and taken on additional challenges, cleaning and sanitizing our stores throughout the day and doing their best to ensure social distancing and a safe shopping environment during challenging times. We are grateful for all they do.” 

For the fiscal year to date, Weis Markets posted sales of $3.09 billion, up 16.9% from $2.64 billion in the prior-year period. Comp-store sales in the 39 weeks grew 17.3% year over year, with e-commerce sales up 147%. Net income for the nine months came in at $99.5 million, or $3.70 per share, versus $26.9 million, or $1.83 per share, a year earlier.

Currently, Weis Markets operates 195 supermarkets in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia, compared with 198 stores a year ago.

Last month, the regional grocer completed remodels for three of its stores in Frederick, Md., including locations at Old Camptown Road and Route 40, Thomas Johnson Drive and Spring Ridge Parkway.

Related:Weis Markets ups its digital advertising game

All three stores received new decor and had their pharmacy departments expanded, while the Old Camptown and Spring Ridge stores also now feature larger frozen sections. In addition, the Old Camptown and Spring Ridge locations house store-within-a-store areas for natural and organic products as well as new self-checkout lanes. The Thomas Johnson Drive store, too, includes upgraded bakery and deli departments.

At the Old Camptown store, a second phase of the upgrade will include the addition of a six-pump fuel center.

“These updated stores offer our Frederick customers improved variety, service and convenience,” stated Ron Bonacci, vice president of advertising and marketing. “We are proud to enhance our shopping experience and continue to invest in the communities we service.”

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About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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