Sign In
Free Newsletter
Weis Markets sees 14.4% sales increase in quarterly report
Listen to this articleWeis Markets Inc. Monday reported its sales increased 14.4 percent to $1 billion during the 13-week period ended Sept. 26, compared to the same period in 2019, while its third quarter comparable store sales increased 14.8 percent.
The company’s third quarter net income increased 118.8 percent to $31.3 million compared to $14.3 million in 2019, while earnings per share totaled $1.16 compared to $0.53 per share for the same period in 2019. Third quarter ecommerce sales increased 160 percent.
Jonathan Weis, Weis Markets’ chairman and CEO, attributed the uptick in sales to families still working and educating remotely, resulting in more at-home meals and making fewer trips to its stores, but buying larger orders. He also added ecommerce sales continued to grow at a record rate.
On Friday, the company’s board of directors declared a quarterly dividend of $.31 per share to shareholders of record as of Nov. 9, payable on Nov. 23.
Founded in 1912, the Sunbury, Pennsylvania-based Weis Markets is a mid-Atlantic food retailer operating 195 stores in Maryland, Pennsylvania, Delaware, New Jersey, New York, Virginia and West Virginia.
