Weis Markets to Invest Millions on Upgrades
Weis Markets will invest more than $160 million this year with the funding earmarked for several initiatives that include store remodel projects and a new location.
During the company’s shareholder meeting, Jonathan H. Weis, chairman, president and CEO, said that investments will also be made in fuel centers, information technology upgrades and thousands of smaller store improvement projects.
"Our budget includes 20 remodels, six fuel centers, one addition and one new store, which will open in 2024,” Weis said. “We have five new stores in active planning stages. Our budget also includes thousands of store improvement projects which improve efficiencies and drive sales."
Additionally, Weis noted that while inflation helped boost top-line results, higher costs for energy, fuel and products put “considerable pressure” on company profits.
"Record inflation also put an enormous strain on our customers' budgets,” he said. “In response, we continued to expand our Low, Low Price program in 2022. It now includes more than 9,000 of our best-selling grocery, frozen and produce items. This price investment helped our customers and our business. Customers saved more than $10 million while we competed effectively in our seven-state market area."
Currently, Weis operates 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, Virginia and West Virginia.