Weis Markets, the US retailer, plans to up its capital expenditure by 25% to some US$80m over the next year, the company has told shareholders.
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Vice chairman Jonathan Weis told the retailer’s annual shareholders meeting yesterday (28 April) that the business was “focused on disciplined growth”.
Mr Weis said: “We have eighteen projects in active planning stages and expect to soon begin work on one replacement unit and a new store in the coming months. A substantial portion of our budget will go towards the upgrade of our information technology systems.”
Weis Markets operates 154 stores in five US states – Pennsylvania, Maryland, New Jersey, New York and West Virginia.
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