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Weis Markets' 4Q Earnings Nearly Double


Sunbury, Pa. Weis Markets Inc., which operates supermarkets in five mid-Atlantic states, said Wednesday its fourth-quarter earnings nearly doubled as the company helped increase sales through promotions and improved efficiency.

Net income for the quarter ended Dec. 27 jumped to $17 million from $8.6 million a year earlier. Quarterly sales rose 3% to $619.4 million from about $603 million in the fourth quarter of 2007.

Same-store sales gained 2.2%.

In a statement, Weis Markets' president and chief executive David J. Hepfinger attributed the company's improved results to targeted promotions and other initiatives to drive sales, combined with efforts to make operations more efficient at the store and distribution levels.

For the full year, earnings fell 8% to $47 million from $51 million a year ago.

Company sales gained 4.5% to $2.42 billion from $2.32 billion in the prior year. Same-store sales for the year rose 4.3%.

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