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SHAMOKIN DAM, Pa. - Weis Markets chairman Robert F. Weis on Tuesday said his company would invest $67.4 million over the next 12 months for construction of five superstores and the remodel or expansion of 12 units.
The company currently operates 162 stores in six states: Pennsylvania, Maryland, New Jersey, New York, Virginia and West Virginia. It also owns and operates 33 SuperPetz units in 11 states.
At the company's annual shareholder meeting, Weis said the $67.4 million figure will also cover technology investments.
Weis said the company's 2001 net profit as a percentage of sales was twice the industry average. Its expansion program resulted in the investment of $48.1 million in 2001 for new technology purchases, the construction of two superstores and the remodel or expansion of six others.
The company's technology initiatives include continued upgrade of its loyalty marketing program, the next generation development of an in-house data warehouse, the completed implementation of new distribution, scale management and purchasing systems, and the continued rollout of self-scan units, which are now in 53 stores.
President Norman S. Rich also said the company would continue to increase its investment in associate training, saying, "Continuous training and education will be a key part of our efforts. This year, we are taking our training programs to the next level in order to better manage our business and better serve our customers."
Also at the meeting, Weis Markets Board elected William R. Mills, current board member and corporate secretary, as treasurer. Jonathan Weis, also a current board member, will succeed Mills as corporate secretary.