Price investments drive up Weis Markets’ first-quarter sales

Weis Markets pasta collection
Weis Markets has reported an uplift in sales for the first quarter. (Source: Weis Markets/Facebook)

Weis Markets has reported an uplift in sales for the first quarter, with the company’s investments in product prices among the contributing factors.

The company’s net sales for the quarter ended March 29 rose 2.7 per cent to $1.196 billion, including the adjustment of $14 million due to Easter occurring in the first quarter last year, compared to the second quarter this year.

Comparable store sales, which was not affected by the timing of Easter and excluding fuel, increased 1 per cent.

However, net income decreased 11.6 per cent to $20.48 million.

CEO Jonathan H Weis said the results were in line with expectations despite the “challenges of an uncertain macroeconomic environment”.

Weis cited benefits from the company’s continued product price investments, increased tempo of loyalty program, and significant regional weather events.

“In addition, we continue to make strategic cost investments in our associates and technologies that improve efficiencies and enhance customer experience,” he added.

The company posted a 1.6 per cent increase in sales and 5.9 per cent uplift in net income last year.

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