US regional retailer Weis Markets has posted an increase in its third quarter results, despite a “difficult” economic environment.
The company yesterday (11 October) reported net income of US$17m for the thirteen-week period ended 24 September, up 4.1% on the same period last year.
Sales were up 6% to reach $678.6m. Store sales increased 6.5% compared to the same period a year ago.
“Our company continues to generate strong results in a difficult economic environment,” said Robert Weis, Weis Markets’ chairman.
Weis recognised that fuel and wholesale inflation impacted the company but said the business did not pass these costs on to its consumers.
“Our company continues to benefit from improved operating performance and execution at store level, increased supply chain efficiencies and a disciplined and effective go-to-market strategy,” Weis added.
For the nine months ended 24 September the company’s sales increased 2.9% to $2bn while its comparable store sales increased 4%.
Weis Markets currently operates 162 stores in Pennsylvania and in Maryland, New York, New Jersey and West Virginia.