US grocery retailer Weis Markets has announced increased sales and earnings in 2004 and a $109.4m expansion programme for 2005.
Go deeper with GlobalData
During the year ended 25 December 2004, the company’s sales increased to $2.098bn, compared with $2.042bn in 2003. Net income rose to $57.2m from $54.58m
The expansion programme announced at the same time includes the construction of eight superstores, including five replacement units, the expansion of eleven stores and the remodelling of eleven others.
“In 2004, our capital expenditures totalled $82.8 million at 3.9% of store sales, which significantly exceeds the industry average,” said chairman Robert F. Weis. “We have budgeted significantly more for our growth program in 2005.”
Weis said that while the company expects to start these projects in 2005, some might not be completed until 2006.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCompany president and CEO Norman S. Rich said, “2004 was a year of growth and progress for our company. Despite intensifying competition and continued economic underperformance in many of our markets, our company continued to move forward. For our company and our associates, it was a busy and productive year.”
