Better productivity has boosted profits at regional US retailer Weis Markets, which has seen sales remain flat in the first half of its financial year.
The company said yesterday (31 July) its net income increased 10% in the six months to the end of June to US$43.2m. Operating income was up 9.7% at $65.7m.
Go deeper with GlobalData
The better profits came despite flat sales. Net sales increased 0.2% to $1.3bn, with comparable-store sales inching up 0.7%.
“We are operating in a stagnant sales environment resulting from the poor economy and intense competition,” president and CEO David Hepfinger said.
“In the second quarter, we continued to improve efficiencies and productivity at store level and in our supply chain while enhancing quality of our customer shopping experience in terms of our in-stock position and overall freshness.”
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
