US food retailer Weis Markets has posted rising first-half sales and earnings after a healthy second quarter.
The Pennsylvania-based company said net income and sales both rose 3.7% during the first half of the year. Profits reached US$31.6m, while turnover hit $1.2bn.
Weis Markets said second-quarter earnings were boosted by the sale of two properties generating a $5.3m pre-tax gain. Expenses as a percentage of sales remained consistent, due to recently implemented cost control initiatives, the company added.
Net income for the second quarter rose by 17.2% to $18.2m; sales rose 3% to $578.8m.
Comparable stores sales for the second quarter were up by 3.2%, and by 3.6% for the year. Weis said that growth in perishable goods, successful sales-building strategies and aggressive promotional activity had contributed to the overall growth.
