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Weis Markets Reports Second Quarter Results

Weis Markets Reports Second Quarter Results



SUNBURY, PA - In the wake of COVID-19, Weis Markets has seen firsthand the wave of a retail market shift—and came out on top. The retailer, in its latest Q2 reports, noted that its sales increased 23.7 percent to $1.1 billion during the thirteen-week period ending June 27, 2020.

Jonathan Weis, Chairman and Chief Executive Officer, Weis Markets"The coronavirus pandemic has altered most aspects of daily life in our seven-state market area which was impacted by full and partial shutdowns initially, and cautious reopenings in June," said Chairman and CEO Jonathan Weis. "This has resulted in customers taking an increased number of meals at home, which shifted foodservice demand to food retail."

Notable results from the financial report include:

  • Second quarter net income increased 102.5 percent to $41.5 million
  • Earnings per share totaled $1.54 compared to $0.76 per share for the same period in 2019
  • E-commerce sales increased 243 percent during the same period

"Our dedicated associates helped us adjust to these new market conditions with accelerated replenishment schedules, strategic procurement, and an ongoing commitment to ensuring a safe shopping environment. Their essential work makes this possible. We remain grateful for all that they do," concluded Weis.

Weis Markets has seen firsthand the wave of a retail market shift and came out on top, reporting a sales increase of 23.7 percent to $1.1 billion during the thirteen-week period ending June 27, 2020

For the full report, click here.

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Weis Markets