US supermarket operator Weis Markets has posted a 2.9% rise in quarterly net income on a 2.3% rise in sales.
Go deeper with GlobalData
The company reported net income of US$16.2m, or 60 cents per share, for the first quarter to 27 March, compared to income of $15.8m, or 58 cents per share, in the year-ago quarter.
Weis Markets, which operates 158 stores in six states and 33 SuperPetz units, said its quarterly sales rose to $520.7m from $509.1m a year earlier. Comparable store sales increased 3.0%.
The company said the increases in sales and net income were the result of a strong performance in its perishable departments, favourable variances in commodity pricing, increased customer traffic and improvements in its expense control initiatives.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
