US supermarket operator Weis Markets has posted a 2.9% rise in quarterly net income on a 2.3% rise in sales.
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The company reported net income of US$16.2m, or 60 cents per share, for the first quarter to 27 March, compared to income of $15.8m, or 58 cents per share, in the year-ago quarter.
Weis Markets, which operates 158 stores in six states and 33 SuperPetz units, said its quarterly sales rose to $520.7m from $509.1m a year earlier. Comparable store sales increased 3.0%.
The company said the increases in sales and net income were the result of a strong performance in its perishable departments, favourable variances in commodity pricing, increased customer traffic and improvements in its expense control initiatives.
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By GlobalData
