Weis Markets posts 2Q sales gain, income loss

SUNBURY, Pa. Weis Markets announced a sales increase of 4.3% to $603.4 million for the second quarter of 2008, compared to $578.8 million for the like period last year.

Net income totaled $12.8 million, an almost 30% drop from last year's $18.2 million when the company reported a $5.3 million pre-tax gain from the sale of two properties. Earnings per share came in at 48 cents per share, compared to 67 cents per share for the prior-year period. Net income was impacted by $1 million in increased fuel costs and a 9.4% increase in credit and debit card transaction fees.