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 a quarterly dividend of $.31 per share, with shareholders of record as of July 26, 2021. The dividend will be payable on August 9, 2021. This decision reflects the company’s ongoing commitment to returning value to its shareholders in a competitive Mid-Atlantic food retail market.
Weis Markets, Inc. (NYSE: WMK) reported a 2.1% increase in sales to $1.0 billion for the thirteen weeks ending March 27, 2021, compared to 2020. However, net income fell 9.1% to $24.3 million, with earnings per share at $0.90. Notably, sales were up 14.8% and net income up 69.6% compared to pre-pandemic levels in Q1 2019. The report reflects ongoing challenges from COVID-19, yet management remains positive about the company’s positioning as a food retailer.
Weis Markets, Inc. (NYSE:WMK) plans to invest $135 million in growth initiatives throughout 2021, as announced by CEO Jonathan H. Weis during the annual shareholder meeting in Sunbury, PA. The investment will focus on new stores, remodels, fuel centers, and IT upgrades. Recent achievements include a new store opening in Martinsburg, WV and the remodeling of a store in Gap, PA. The company's FY 2020 results showed a 16.1% increase in sales to $4.1 billion and a 74.9% surge in net income to $118.9 million.
Weis Markets, Inc. (NYSE:WMK) has announced a quarterly dividend of $.31 per share for shareholders of record as of May 10, 2021, payable on May 24, 2021. This reflects the company's commitment to returning value to its shareholders. Weis Markets operates 198 stores across the Mid-Atlantic region, including states like Pennsylvania, Maryland, and New York. Investors can find more information on their operations and performance at WeisMarkets.com.
Weis Markets, Inc. (WMK) reported total sales exceeding $4.1 billion for the fiscal year ending December 26, 2020, marking a 16.1% increase year-over-year. Comparable store sales rose 16.4%. Operating income surged by 92.8% to $163.2 million, and net income rose 74.9% to $118.9 million. Earnings per share increased to $4.42. The company attributed its success to enhanced e-commerce, increased in-home meal consumption during the pandemic, and strong performance in fresh departments. Fourth quarter sales grew by 13.7% to $1.0 billion, with net income slightly increasing by 2.8% to $19.4 million.
Weis Markets, Inc. (NYSE:WMK) has announced a quarterly dividend of $.31 per share. Shareholders of record as of February 16, 2021 will receive this dividend, which is payable on March 2, 2021. This decision reflects the company's commitment to providing value to its investors while continuing to operate its network of 197 stores across several Mid-Atlantic states, including Pennsylvania, Maryland, and Virginia.
Weis Markets (NYSE:WMK) announced the appointment of Michael T. Lockard as the new Senior Vice President and Chief Financial Officer (CFO), effective March 12. He will succeed Scott Frost, who is retiring after a 42-year career with the company. Lockard brings over 25 years of experience in retail and finance, focusing on strategic planning and financial management. His role will involve overseeing the company's accounting and financial functions. Chairman Jonathan Weis expressed confidence in Lockard's capabilities to contribute to Weis Markets' future success.
Weis Markets reported a 14.4% sales increase to $1.0 billion for the thirteen weeks ending September 26, 2020, with comparable store sales up 14.8%. Net income surged 118.8% to $31.3 million, and earnings per share rose to $1.16 from $0.53. Ecommerce sales grew 160% in Q3 and 147% year-to-date. For the 39-week period, sales increased 16.9% to $3.1 billion, with net income up 102.6% to $99.5 million. The company attributes growth to more at-home meals and adjusted shopping habits during the pandemic.
Weis Markets, Inc. (NYSE:WMK) has declared a quarterly dividend of $.31 per share, a decision made by its Board of Directors. This dividend is set for shareholders of record as of November 9, 2020, with a payment date scheduled for November 23, 2020. Weis Markets operates 195 stores across several Mid-Atlantic states including Pennsylvania, Maryland, and New Jersey, indicating a stable market presence and commitment to returning value to shareholders.
Weis Markets reported a 23.7% increase in sales to $1.1 billion for Q2 2020, with comparable store sales up 24.1%. Net income surged 102.5% to $41.5 million, resulting in earnings per share of $1.54. Year-to-date sales rose 18.1% to $2.1 billion, and net income increased 96.0% to $68.2 million. Ecommerce sales experienced a significant growth of 243% for Q2 and 141% YTD, attributed to shifts in consumer behavior during the pandemic.
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