Private label lifts Weis Markets' sales in second quarter
Weis Markets' second-quarter sales were elevated thanks to the grocers private label price reductions.
Lifted by the launch of its “Low, Low Price” program offering price reductions on 7,000 private brand products, Sunbury, Pa.-based Weis Markets’ second-quarter sales for the 13-week period ended June 29 edged up 1.9% to $888 million versus the $876.7 million last year.
The company’s second-quarter net income increased 7.2% to $20.5 million compared to $19.1 million in 2018, while earnings per share totaled $0.76 compared to $0.71 per share for the same period in 2018.
Additional reasons that Weis Markets gave for its higher sales and comps were an increased number of winter weather events in 2018 and the growth of its Weis 2 Go online ordering service featuring in-store pickup and home delivery.