Weis Markets Invests $150 Million in Capital Expenditure Program; Jonathan H. Weis Comments
SUNBURY, PA - Weis Markets is looking to expand its company growth through an immense investment strategy. Recently, the retailer revealed it will be investing $150 million in its company growth this year.
“In 2022, we plan to invest more than $150 million in our capital expenditure program,” said Chairman, President, and Chief Executive Officer Jonathan H. Weis. “This budget includes four new stores, some of which will be completed in the coming years, one expansion, five major remodels, and eight fuel centers.”
The company revealed plans during its annual shareholder meeting in Sunbury, Pennsylvania. According to the release, Weis Markets continues to make record investments in new stores, remodels, fuel centers, information technology upgrades, and smaller store improvement projects.
During the meeting, the grocer revealed it had opened replacement stores in Gap, Bethlehem, and Macungie, Pennsylvania, along with a new store in Martinsburg, West Virginia.
“The past two years have been an enormously challenging time for us, but our team has held up well and has done extraordinary things on a daily basis,” continued Weis. “Today, Weis associates in every part of our company are helping us feed the communities we serve and grow our business. We are proud and grateful.”
Additionally, noted the release, the company also completed 13 major remodels, opened nine fuel centers, and finished work on more than 1,100 retail store projects, which improve efficiencies and customer experience.
“Our growth program, along with strong supply chain performance, disciplined merchandising, and consistent in-store conditions, helped us generate a record $4.2 billion in net sales and a 1.7 percent comparable store sales increase in 2021, exceeding record results in 2020,” Weis concluded. “On a two-year stacked basis, our sales increased 18.1 percent.”
Excited to learn more about the changing retail landscape? Stay tuned as we follow the wire.