Welcome to our dedicated page for Weis Markets news (Ticker: WMK), a resource for investors and traders seeking the latest updates and insights on Weis Markets stock.
Weis Markets, Inc. (NYSE: WMK) is a prominent regional grocery chain headquartered in Sunbury, Pennsylvania, operating over 160 stores across Pennsylvania, Maryland, New Jersey, New York, and West Virginia. Founded in 1912, the company has a rich history in retailing food products, focusing primarily on providing quality center-store goods, fresh produce, pharmacy services, and fuel options to its customers. Weis Markets employs more than 18,000 individuals from diverse backgrounds, all committed to offering exceptional service to millions of customers annually.
The company’s product range includes groceries, dairy products, frozen foods, alcoholic beverages, and general merchandise as part of its center-store offerings. Its fresh goods segment features meats, seafood, floral arrangements, prepared foods, and bakery items. Together, these categories contribute significantly to Weis Markets’ overall revenue.
Weis Markets maintains a massive 1.1 million square foot warehouse in Milton, PA, ensuring seamless supply chain operations. Recent financial results reveal solid performance despite market challenges such as inflation and higher interest rates. For the second quarter of 2023, net sales reached $1.18 billion, marking a 3.8% increase from the previous year. However, net income for the quarter was $34.27 million, reflecting a 5.5% decrease from 2022.
Weis Markets continually invests in strategic growth to benefit its associates, customers, and shareholders. Recent initiatives include expanding the Low, Low Price program to offer everyday savings on over 10,000 products and making technological advancements to enhance business efficiencies. Additionally, the company announced plans for record investments in 2024, including the construction of six new stores, multiple store remodels, and new fuel centers.
For shareholders, Weis Markets declared a quarterly cash dividend of $0.34 per share, payable on various dates throughout 2023 and 2024. The company's commitment to prudent financial management and long-term growth strategies aims to deliver consistent value to its stakeholders.
Weis Markets also adheres to rigorous risk management and cybersecurity protocols, ensuring robust protection against various operational risks. The company is dedicated to maintaining transparency and regularly updates its shareholders and analysts through detailed financial reports.
Weis Markets, Inc. (NYSE: WMK) announced robust financial results for Q4 2022, showing a 9.5% increase in comparable store sales and net sales of $1.31 billion, an 18.0% growth year-over-year. The company's Q4 net income rose to $28.88 million (up 27.7%), with earnings per share at $1.07, compared to $0.84 in 2021. For the fiscal year 2022, net sales reached $4.70 billion, an 11.2% increase. Net income for the year was $125.20 million (up 15.0%), with EPS at $4.65. The Board declared a quarterly dividend of $0.34 per share, payable on February 27, 2023.
Weis Markets, Inc. (NYSE: WMK) announced a quarterly cash dividend of $0.34 per share, set for shareholders of record as of February 13, 2023. The dividend will be payable on February 27, 2023, reflecting the company's ongoing commitment to returning value to its shareholders. Founded in 1912, Weis operates 197 stores across the Mid-Atlantic, including states such as Pennsylvania, Maryland, Delaware, New Jersey, New York, Virginia, and West Virginia.
Weis Markets, Inc. (NYSE: WMK) reported strong financial results for Q3 2022, with net sales of $1.15 billion, up 8.2% year-over-year, and a 7.9% increase in comparable store sales. Year-to-date results show net sales of $3.39 billion, a rise of 8.7% compared to last year. The company declared a 6.3% increase in quarterly cash dividends from $0.32 to $0.34 per share. Net income for Q3 grew to $28.66 million, marking a 0.5% increase, while year-to-date net income rose 11.7% to $96.31 million. Key savings from a recent tax law change contributed positively.
Weis Markets, Inc. (NYSE: WMK) announced a 6.3% increase in its quarterly cash dividend, raising it from $0.32 to $0.34 per share. Shareholders of record as of November 7, 2022, will receive this dividend on November 21, 2022. This follows a previous increase of 3.2% in Q4 2021. The company's ongoing commitment to enhancing shareholder value is evident through this consistent dividend growth.
Weis Markets reported a strong second quarter in 2022, with net sales reaching $1.14 billion, marking an 8.4% increase from the previous year. Comparable store sales also rose 8.4%, while net income grew 8.3% to $36.27 million. Year-to-date, net sales reached $2.24 billion, a 9.0% year-over-year increase, with net income rising by 17.2% to $67.66 million. The company continues to combat inflation impacts through strategic pricing and private brand promotions.
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