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Weis Markets ups cap ex budget to support remodels and tech investments
Sunbury, Pa. -- Weis Markets announced it would invest $135 million in its 2013 capital expenditure program, an 8% increase compared to the year prior.
“To position our company for continued growth, we have made record investments in our store base,” and vice chairman Jonathan H. Weis, at the company’s annual shareholder meeting. “Look for more of the same in 2013 when we increase our Cap Ex investment to $135 million – an 8% increase compared to 2012 – and a 33% increase compared to 2011.”
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Starbucks’ Q2 profit tops estimates
Seattle -- Starbucks Coffee Company reported that its second-quarter profit rose 26% to $390.4 million, up from $309.9 million last year, amid sales increases in the Americas and Asia regions.
Total net revenue for the quarter ended March 31, 2013, rose 11% to $3.56 billion, not quite the $3.58 billion Wall Street expected. Global same-store store sales grew 6%, driven by a 4% increase in traffic and a 2% increase in average ticket, marking the 13th consecutive quarter of global comp growth greater than 5%.