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11/03/2021

Weis Markets shares successful Q3 numbers

Northeastern grocery chain Weis Markets released its Q3 sale numbers from this year, showing an increase in net sales.
Zachary Russell
Associate Editor
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For Weis Markets net sales totaled $1.1 billion for the 13-week period ended Sept. 25, compared with $1 billion for the same period in 2020, up 6.1%. The grocer's third-quarter comparable store sales increased 4.6% on an individual year-over-year basis and increased 19.4% on a two-year stacked basis.

The Mid-Atlantic grocery chain operates 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia.

Weis Markets’ successful quarter can be attributed in part to the chain’s own brand collection. Alison Gregas, private brand manager at Weis Markets, was recently named one of the Top Women in Store Brands for 2021  by Store Brands and Women Impacting Storebrand Excellence (WISE) . Gregas oversees 6,500 private brand items across the entire store, including new item development, packaging design, and managing key supplier relationships.

Weis Markets’ third quarter net income totaled $28.5 million compared to $31.3 million in 2020, down 9%. Third quarter earnings per share totaled $1.06 compared to $1.16 per share for the same period in 2020. 

“We continued to generate strong results in the third quarter,” said Weis Markets’ chairman, president and CEO Jonathan H. Weis. “Our hard-working and dedicated associates are the key to our success. They continue to help us navigate through the challenges of a pandemic-impacted marketplace which includes a tight labor market, supply chain disruptions, and product cost inflation resulting in some consumer resistance.” 

The Weis Markets’ Board of Directors declared on Oct. 28, a 3.2% increase in the quarterly cash dividend from $0.31 per share to $0.32 per share to shareholders of record as of Nov. 8, 2021 payable on Nov. 22. The last quarterly cash dividend increase was in the fourth quarter of 2018.

Weis said the company will be paying an appreciation bonus in January to most associates, as it has done periodically in the past 18 months, for their ongoing efforts to serve customers.