US retailer Weis Markets saw profits rise by almost 5% in its third quarter despite slow growth in comparable-store sales.
The company booked net income of US$16.3m for the 13 weeks to 25 September, up 4.9% on a year earlier.
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Sales rose 2.7% to $640m but comparable-store sales inched up by only 0.1%.
“We continue to produce solid earnings increases in a slow growth environment that continues to be affected by cautious consumer spending,” said Weis Markets’ president and CEO David Hepfinger. “We attribute our results to continuing operational improvements at store and distribution levels, increased efficiencies, improved cost controls, and disciplined marketing and advertising.”
Over the first nine months of its fiscal year, Weis has seen net income increase 14.7% to $54.2m, sales rise 6.1% to $2bn and comparable-store sales up 1.1%.
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