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.
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.