Weis Markets reports increase in Q1 sales, earnings

SUNBURY, Pa. Weis Markets reported an increase in its first-quarter sales and earnings.

For the thirteen-week period ended March 27, the company's sales increased 9.6% to $664.3 million, compared with $606.2 million for the same period in 2009. The company's first quarter comparable-store sales were up 3%.

In the first quarter, the company's basic and diluted earnings per share increased 4 cents to 65 cents per share, while its net income increased 5.2% to $17.4 million, compared with $16.5 million for the same period in 2009.

"This is our sixth consecutive quarter of strong earnings and sales performance. We continued to improve our overall level of execution and increase efficiencies at store and distribution levels, which helped us generate solid sales and earnings increases along with a 6.1% increase in operating income," said Weis Markets' president and CEO David Hepfinger. "Our sales also benefited from a $3 million investment in aggressive promotional programs throughout our market area."