Weis Markets net income drops in Q1

Sunbury, Pa. – A reduction in pretax income drove an 11% year-over-year decline in net income at Weis Markets Inc. during the first quarter of fiscal 2015. Net income fell to $13.11 million, from $14.77 million the same quarter a year earlier.



Net sales fared better, rising 4% to $712.43 million, from $687.13 million. Same-store sales rose 3.4%.



"We continue to make long-term investments in growing our sales and are encouraged by our results," said Jonathan Weis, Weis Markets' chairman and CEO. "Our first quarter sales increase was the result of improved everyday pricing, disciplined promotions and an improved in-store experience. This combination produced a strong increase in customer count and continued market share growth."