Weis Markets revealed today (13 February) that earnings and sales gains gathered pace in its fourth quarter, propelling an 11% increase in full-year income.

The Pennsylvania-based supermarket company booked a 10.7% increase in net income to US$75.6m for 2011. Sales during the period were up a total of 5%, climbing to $2.8bn, while identical-store sales rose 4.2%.

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Gains were weighted to the fourth quarter, when the company’s sales increased 11.4% and comparable sales, adjusting for the extra week in 2011, increased 4.8%. Net income during the period soared 37% year-on-year, Weis added.

“Our organization generated strong results for the year in a market clearly impacted by the slow recovery and continuing high unemployment,” said David Hepfinger, Weis Markets president and CEO.

“We continue to benefit from our record level cap ex investments in our store base, improved efficiencies and operating discipline in the overall management of our stores, strong increases in our sales per customer and more comprehensive sales building programs during key holiday periods, particularly in the fourth quarter,” he added.

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In a separate announcement, Weis confirmed that it has entered into an agreement to buy three Pennsylvania-based Genuardi’s stores from Safeway Inc.

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“We’re extremely pleased to be adding these stores to our store base,” Hepfinger said. “We look forward to serving these communities as the lead local merchant as we have in 33 counties throughout central, eastern and north-eastern Pennsylvania. We will also be reaching out to the associates of these stores to discuss employment with our company.”

Safeway had previously indicated that it will exit the Philadelphia market with the sale of 16 of its Genuardi’s stores in the greater Philadelphia area to Giant Food Stores, a division of Ahold.