Home / News /

Weis Markets posts strong third quarter sales

Weis Markets posts strong third quarter sales

Weis Markets announced third quarter earnings this week, highlighted by robust sales gains. For the quarter ended September 24, net sales reached $1.15 billion, up 8.2% from the same period a year earlier. The company noted that the net sales gain reflects, in part, retail price inflation in grocery, fuel and fresh product categories.

Excluding fuel, same store sales rose by 6.7% from a year ago and by 9.9% over two years. For the year to date, net sales increased 8.7% to $3.39 billion.

Weis Markets also reported continued expansion of its e-commerce service. Through the end of the quarter, the grocer offered Weis 2 Go Online curbside pickup at 188 stores and home delivery via Shipt at 176 locations. In addition, DoorDash on-demand delivery expanded to 189 stores. E-commerce sales totaled $51.3 million for the first 39 weeks of the year, a 10.3% decrease from the same period a year ago but a 3.3% increase from the same period in 2020.

As for the bottom line, Weis Markets posted third-quarter net earnings of $28.7 million, or $1.07 per share, compared to $28.5 million and $1.06 per share a year ago.

Although the company still plans on $110 million in capital expenditures in 2022, it is experiencing limited availability of raw materials and equipment to complete remodels, supply chain and IT upgrades, and smaller store improvement projects.

Weis Markets operates 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia.