Weis Markets sees rise in 2Q income

SUNBURY, Pa. Weis Markets reported an 18.5% increase in its second quarter net income as compared to the same period a year ago while its basic and diluted earnings per share increased 8 cents to 56 cents per share.

During the 13-week period ending June 27, the company generated $15.2 million in net income compared to $12.8 million for the same period a year ago. The Company's second-quarter sales increased 2% to $615.4 million compared to $603.4 million in 2008 while the company's comparable sales were up 2.4%.

"We made significant investments in our sales programs during the second quarter which helped drive the increases in our sales and net income," said David Hepfinger, Weis Markets' president and CEO. "In addition, our best of class private label program continues to generate strong sales, exceeding the national average, due to the depth and variety of our program and the value driven needs of our customers. Our second quarter results were also positively impacted by the improved sales performance of our perishable departments, particularly in meat and the continued improvement in our store-level operating performance."