Grocery retailer Weis Markets saw higher net sales as it expanded its Low Low Price program during the third quarter of FY23.

Net sales rose 0.8 per cent year over year to $1.16 billion in the three months ended September 30 on the back of a 0.8 per cent increase in comparable store sales on an individual-year basis and an 8.7 per cent rise in comparable store sales on a two-year stacked basis.

Net income, however, fell 19 per cent to $23.2 million.

“Our 2023 results remain in line with our expectations despite a challenging marketplace of ongoing inflation, higher interest rates, and declining government benefits,” said Jonathan H Weis, chairman, president, and CEO of the company.

“During the quarter, we expanded our Low, Low Price program which now offers strong, everyday savings and values on more than 10,000 products. We also continue to make prudent reinvestments in long-term profitable growth which benefits all our stakeholders now and in the years ahead.”

For the first three quarters, the company’s net sales jumped 2.8 per cent to $3.48 billion while net income slid 13.5 per cent to $83.3 million.