Weis Markets Announces Fourth Quarter Results
Weis Markets, Inc. has announced its fourth quarter sales increased 2.8 percent to $734.1 million while its comparable store sales increased 2.8 percent compared to the same period a year ago.
For the thirteen week period ended December 26, 2015, the company’s net income increased 21.0 percent to $16.6 million compared to the same period in 2014. Fourth quarter earnings per share increased 19.6 percent to $0.61 per share compared to fourth quarter 2014. During the same period, the company’s operating income increased 24.5 percent to $25.8 million.
Year-to-Date Results
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For the 52-week period ended December 26, 2015, the company’s sales increased 3.6 percent to $2.9 billion while comparable store sales increased 3.7 percent compared to the 52-week period ended December 27, 2014. Year-to-date net income increased 9.1 percent to $59.3 million while earnings per share increased 9.4 percent compared to 2014. The company’s year-to-date operating income increased 11.6 percent to $90.8 million compared to 2014.
“In 2015, our overall results benefited from strategic pricing investments and the ongoing improvement of our store assortments by market,” said Weis Markets Chairman and CEO Jonathan Weis. “In addition, improved store level, supply chain and store support efficiencies helped us deliver a better customer experience, which helped us increase customer traffic and our overall market share.”
