Weis Markets CEO Jonathan Weis said at the company’s annual shareholder meeting earlier this month that they plan to invest more than $160 million this year on new stores, remodels, fuel centers and information technology upgrades.
“Our budget includes 20 remodels, six fuel centers, one addition and one new store, which will open in 2024,” said Weis. “We have five new stores in active planning stages. Our budget also includes thousands of store improvement projects which improve efficiencies and drive sales.”
During the meeting Weis said that sales totaled $4.7 billion in the 53-week fiscal year that ended on December 31, 2022, which represents an 11.2% increase over the prior year. Net income increased 15% to $125.2 million.
Weis Markets operates 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia.