-
Weis Markets profit rises 8.7% in 2010
Sunbury, Pa. -- Weis Markets reported Thursday that net income for fiscal 2010 increased 8.7% to $68.3 million, compared with $62.8 million in the prior year.
Sales for the year increased 4.1% to $2.6 billion. Same-store sales edged up 1.0%.
Weis Markets currently operates 164 stores in its home state of Pennsylvania and in Maryland, New York, New Jersey and West Virginia. -
Lower prices for all trump higher wages and profits for the few
Slowly but surely the headwinds Walmart has faced for years in its domestic expansion efforts have begun to diminish to the point where major victories are now being scored. Two examples stood out this week on opposite sides of the country. The highest profile of these is the situation in New York where it may not seem like Walmart won a victory this week, but it did. Walmart’s entry into the city has been the subject of considerable and heated debate for at least five years, but the situation has come to head in recent months.