The locally based chain of 164 stores in the Mid-Atlantic and Northeast is doing just fine, thank you. Management recently approved a $102.6-million capital expenditure budget for the year, and sales and earnings are in good shape.
The funds will be used to open two to three stores, expand two and renovate 17 units. Additionally, some of the money will go toward upgrading the grocer's information technology systems.
The capital expenditures come after Weis posted strong first quarter earnings and sales. Same-store sales rose 3% during that period, and the grocer brought in $17.4 million, a 6% gain. Weis is coming off of a fiscal year when net income shot up 33.6%, hitting $62.8 million. Also during the period, net sales rose just under 4%.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
