13Oct2011

Weis Markets Sales, Net and Comps All Rise

(Sunbury, PA) – Weis Markets, Inc. (NYSE:WMK) today reported its third quarter sales increased 6.0% to $678.6 million and that its comparable store sales increased 6.5% during the thirteen-week period ending September 24, 2011 compared to the same period a year ago.

During the period, the Company’s net income increased 4.1% to $17.0 million compared to the same period a year ago. The Company’s third quarter earnings per share increased to $.63 compared to $.61 per share in 2010.

“Our company continues to generate strong results in a difficult economic environment,” said Robert F. Weis, Weis Markets’ Chairman. “Cautious consumer spending due to the poor economy continues to impact our business. Fuel and wholesale inflation impacted our business during the period. We absorbed a significant portion of these cost increases during the quarter and did not pass them on to our customers. Our company continues to benefit from improved operating performance and execution at store level, increased supply chain efficiencies and a disciplined and effective go-to-market strategy.”

Year to Date
For the 39-week period ending September 24, 2011, the Company’s sales increased 2.9% to $2.0 billion while its comparable store sales increased 4.0%. During this period, its earnings per share totaled $2.09, up $.07 per share compared to the same period in 2010 while its net income increased 3.8% to $56.3 million.

About Weis Markets
Founded in 1912, Weis Markets will mark its 100th year of operation in 2012. It currently operates 162 stores in its home state of Pennsylvania and in Maryland, New York, New Jersey and West Virginia. For more information about Weis Markets, Inc., please visit www.weismarkets.com. Connect with Weis Markets on Facebook at www.facebook.com/WeisSuperMarket. Follow Weis Markets on Twitter @weismarkets.