May 8, 2019

Weis Markets to spend $109 million on growth

On April 25, 2019 Weis Markets Chairman and CEO Jonathan H. Weis announced the company plans to invest $109 million in growth during 2019. The money will be spent on new stores, remodels, supply chain improvements and continued information technology (IT) upgrades.

“As part of our company’s commitment to long-term growth, we will invest roughly $109 million in our store base and support areas,” Weis said at the company’s annual shareholder meeting in Sunbury, PA. “This includes a new store in Bedminster, PA, as well as 14 store remodels, six fuel centers, supply chain and IT investments,” Weis said.

Weis Markets saw sales increase to a record $3.5 billion in 2018, with comparable store sales having increased 18 of the past 19 quarters. The company’s income from operations also increased by 9.4 percent year over year. Weis attributed the progress to its store base and IT investments. He also said its sales and operating income benefited from targeted holiday promotions through its loyalty marketing program, price optimization improvements and more efficient store-level inventory management.

“Our e-commerce investments helped generate a 33.2 percent increase in our online sales,” said Weis. “Today, we offer online ordering with curbside pickup in 125 stores while 174 of our stores offer home delivery via Shipt, a leading online delivery service. Online ordering is a growing segment of our business that we expect to grow exponentially in the coming years,” he said.

The company also celebrates the 10th anniversary of its sustainability program, designed to minimize its overall impact on the environment. “During the past 10 years, our team has made considerable progress with our sustainability program, far exceeding our initial expectations,” Weis said. “In 2015, we met our 2020 goal of reducing our total carbon emissions by 20 percent compared to 2008, five years ahead of schedule; we look forward to building on our progress in the years ahead,” he added.

 

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