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Weis Markets Q2 net income plummets
Sunbury, Pa. – Net income at Weis Markets Inc. plummeted close to 47% during the second quarter of fiscal 2014, compared to the prior year period. Weis reported net income of $12.8 million, compared to $21.18 million a year earlier.
Weis cited company reinvestment and price discounting as driving the net income decline. Second quarter sales increased 4.5% to $691.9 million, from $662.1 million and same-store sales increased 2.9%.