Weis posts 14% sales growth in Q3 as e-commerce booms

Weis Markets’ third-quarter results, released Friday, showed solid sales growth as it readies for the holiday season. The Sunbury, Pa.-based retailer posted $1 billion in sales for the 13-week period ended Sept. 26 — a 14.4% increase over the same period last year. Comparable-store sales were up 14.8% year over year.

Net income for Weis Markets was $31.3 million — a 118.8% year-over-year increase — and earnings per share similarly increased, coming in at $1.16, compared with 53 cents a year ago.

"Our sales and current demand continue to be impacted by a significant number of people working remotely, often with children attending school the same way, which results in more at-home meals," said Jonathan Weis, Weis Markets' chairman and CEO. "Our customers have also adjusted the way they shop, making fewer trips to our stores but buying larger orders. Additionally, our e-commerce sales continue to grow at a record rate."

For the year to date, Weis Markets has seen a 16.9% year-over-year increase to total $3.1 billion. Comparable-store sales have been up 17.3% year to date, and e-commerce sales have seen a 147% year-over-year increase. Total income for the company so far this fiscal year is $99.5 million — a 102.6% increase over the prior-year period.

The company said that it has adjusted its procurement strategy and focused on consistently having products in-stock. It also has been using disciplined pricing and marketing programs and accelerated replenishment schedules.

“Over the past seven months, our associates have adapted and taken on additional challenges, cleaning and sanitizing our stores throughout the day and doing their best to ensure social distancing and a safe shopping environment during challenging times,” Weis said. “We are grateful for all they do."