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Price investments and enhanced marketing programs helped Weis Markets' first-quarter sales increase 3.6 percent to $738.2 million, alongside an identical 3.6 percent same-store sales gain in the 13-week period ended March 26. Accounting for the Easter calendar shift, the regional supermarket chain said the incremental same-store sales impact was approximately $7.1 million, or a 1 percent increase.
In addition to the Q1 sales gains, the Sunbury, Pa.-based grocer's net income surged 51 percent to $20 million, while earnings per share increased 50 percent to 75 cents per share, versus 50 cents per share in the year-ago period. Additionally, the company's Q1 operating income increased 57.4 percent to $31.3 million.
"Our results continue to benefit from our long-term pricing investments and the refinement of our marketing programs, which spurred increased sales in center store, HBC, frozen, pharmacy and most of our fresh departments," said Jonathan H. Weis, Weis Markets' chairman and CEO. "These investments and refinements were complemented by improved supply chain and store support efficiencies,and an increased focus on our store-level customer experience."
Weis Markets operates 162 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia.