Retailers

Weis Sees Q1 Comps, Profits Surge in Crisis

Same-store sales jump by 12.8%, net income by 86.6% during first weeks of pandemic
Photograph by WGB Staff

The onset of the coronavirus pandemic triggered a 12.4% increase in quarterly sales and a 12.8% comparable-store sales jump for Weis Markets Inc.

The fiscal first quarter for the Sunbury, Pa.-based retailer ended March 28, about two weeks after business and school closures and stay-at-home orders were issued to mitigate the spread of COVID-19. Weis estimated comps in the quarter would have increased by about 1.5% without those measures.

Sales in the 13-week period totaled $985.8 million, up from $876.7 million in the same period last year.

“Our team quickly adapted to this changed market environment and resulting supplier disruptions by accelerating and increasing replenishment shipments to our stores and implementing a comprehensive COVID-19 prevention program in our stores, distribution, manufacturing and support facilities to provide a safe shopping and working environment,” said Weis Markets Chairman and CEO Jonathan Weis. “We carry a profound sense of sadness for those who are suffering or have lost their lives during this pandemic, and a tremendous appreciation for the essential Weis Markets associates who come to work each day, providing the products and services that are allowing our customers to stay at home and help stop the spread of the novel coronavirus.”

The company’s first-quarter net income increased by 86.6% to $26.7 million during the 13-week quarter.

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