Retail Foodservice

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.
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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