Weis Markets Announces Q4 Results

Sunbury, Pa. Weis Markets Inc. said Tuesday that its fourth-quarter sales increased 4.4% to $603 million, compared to the same period a year ago.

For the 13-week period ending Dec. 29, 2007, Weis' fourth-quarter net income totaled $8.6 million, compared to $14 million in 2006. Meanwhile, fourth-quarter earnings were impacted by a 1.3% gross profit-rate decline, down from 26.0% in 2006 to 24.7% in 2007.

For the 52-week period ending Dec. 29, 2007, the chain's sales increased 3.3% to $2.3 billion, while its comparable store sales increased 3.5%. Year-to-date net income decreased 9.0% to $51.0 million.