In the US, Weis Markets has revealed that sales and earnings increased during the 13-week second quarter of the year, boosted by improved efficiency and productivity as well as disciplined promotion and marketing.
According to the group, net income came in 12.1 per cent higher, generating US$23.2m, while earnings per share increased 11.7 per cent and operating income increased 11.4 per cent to US$35.3m.
Sales grew slightly, by 0.1 per cent, to US$677.1m, while same-store sales increased 0.4 per cent.
'We are operating in a stagnant sales environment resulting from the poor economy and intense competition,' said David Hepfinger, Weis Markets' president and CEO. '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. We also continued to invest in our growth by acquiring and reopening three units in the Delaware Valley and extensively remodeling six units.'
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