Skip to content
usa post click

Usa Post Click

Your Latest USA News

  • Home
  • Business
  • Culture
  • Education
  • Retail
  • Travel
  • Toggle search form

WEIS MARKETS ANNOUNCES 2023 GROWTH PLAN AT ANNUAL SHAREHOLDER MEETING

Posted on May 4, 2023 By P.C. editor

www.WeisMarkets.com

Company plans to invest more than $160 million in Cap-Ex program

SUNBURY, Pa., April 27, 2023 /PRNewswire/ — Weis Markets, Inc. (NYSE:WMK) Chairman, President and Chief Executive Officer Jonathan H. Weis today updated shareholders on the company’s plans to invest more than $160 million in its growth in 2023.

At the company’s annual shareholder meeting in Sunbury, Pennsylvania, Mr. Weis said the company continues to make record investments in new stores, remodels, fuel centers, information technology upgrades and thousands of smaller store improvement projects.

“In 2023, we plan to invest more than $160 million in our capital expenditure program,” said Mr. Weis. “Our budget includes 20 remodels, six fuel centers, one addition and one new store, which will open in 2024. We have five new stores in active planning stages. Our budget also includes thousands of store improvement projects which improve efficiencies and drive sales.”

Mr. Weis discussed the impact of inflation in fiscal year 2022.

“In fiscal year 2022, inflation hit a 40-year high. While inflation was helpful to our sales, higher energy, fuel and product costs put considerable pressure on our profits,” said Mr. Weis. “Record inflation also put an enormous strain on our customers’ budgets. In response, we continued to expand our Low, Low Price program in 2022. It now includes more than 9,000 of our best-selling grocery, frozen and produce items. This price investment helped our customers and our business. Customers saved more than $10 million while we competed effectively in our seven-state market area.”

During the meeting, Mr. Weis reviewed the Company’s results. In the 53-week fiscal year ended December 31, 2022, sales totaled $4.7 billion, up 11.2 percent. Adjusted for an additional week in 2022, comparable store sales increased 8.8 percent on an individual year-over-year basis and increased 10.5 percent on a two-year stacked basis. In fiscal year 2022, net income increased 15 percent to $125.2 million.

Mr. Weis also praised associates at every level of the company.

“Our continued success is due to the hard work and commitment of our associates,” said Mr. Weis. “Over the past three years, they’ve faced extraordinary challenges and helped us move forward in a highly competitive market. We are truly grateful for all they do.”

About Weis Markets
Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia. For more information, please visit: WeisMarkets.com or Facebook.com/WeisMarkets.

SOURCE Weis Markets, Inc.

Originally published at https://www.prnewswire.com/news-releases/weis-markets-announces-2023-growth-plan-at-annual-shareholder-meeting-301810306.html
Images courtesy of https://pixabay.com

The post WEIS MARKETS ANNOUNCES 2023 GROWTH PLAN AT ANNUAL SHAREHOLDER MEETING first appeared on POST CARD PLANET.

Shopping

Post navigation

Previous Post: Introducing the Versatile Salary Calculator by Calculator.io
Next Post: Fresh Management Capabilities Now Available to Grocers in Oracle Cloud

More Related Articles

SMART & FINAL WORKERS JOIN TEAMSTERS Shopping
Lidl Stores Across Poland and the Netherlands Offering hemperella, a new line of Hemp Food Products Shopping
Spencer’s & Spirit Halloween Announces Significant Expansion to Corporate Headquarters in New Jersey Shopping
SpartanNash to Webcast First Quarter 2023 Earnings Conference Call Shopping
Natural Grocers® Announces Summer Sweepstakes at Colorado Springs Locations, June – August 2023 Shopping
Kroger Wins SEAL 2023 Business Sustainability Award for Zero Hunger | Zero Waste Impact Plan Shopping
May 2023
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
293031 
« Apr    
  • How does one prepare for RetirementMay 29, 2023
  • American IRA Explains Ways to Unlock a Self-Directed Roth IRAMay 27, 2023
  • LaMar’s Donuts Partners with The Salvation Army to Celebrate National Donut Day on June 2ndMay 26, 2023
  • SMART & FINAL WORKERS JOIN TEAMSTERSMay 26, 2023
  • How the Interest Rate Hike is Impacting Personal Loan BorrowersMay 26, 2023
  • Personal Loan Interest Rates Are Rising for These Types of LoansMay 26, 2023
  • Vivid Sydney 2023 Lights Up Its Greatest Festival YetMay 26, 2023
  • Lidl Stores Across Poland and the Netherlands Offering hemperella, a new line of Hemp Food ProductsMay 25, 2023
  • Spencer’s & Spirit Halloween Announces Significant Expansion to Corporate Headquarters in New JerseyMay 25, 2023
  • SpartanNash to Webcast First Quarter 2023 Earnings Conference CallMay 25, 2023
  • The Best Personal Loan Options for People With Bad CreditMay 25, 2023
  • Natural Grocers® Announces Summer Sweepstakes at Colorado Springs Locations, June – August 2023May 25, 2023
  • Wings for Widows Partners With HearMe App to Bring Peer-Listening to the Widowed CommunityMay 25, 2023
  • Growgetter Launches as Growth Marketing Agency for Data, Insights and Analytics FirmsMay 24, 2023
  • Visited Publishes Most Visited Pyramids, and Great Pyramids of Giza Did Not Make It to First PlaceMay 24, 2023
publish press release online
VUGA Enterprises
24Fashion TV - best fashion shows and social network. Free membership
24Fashion TV
breaking celebrity news
Free Reality TV
laser med spa in miami
plastic surgery, stem cell clinic in kiev

Copyright © 2023 Usa Post Click.