Weis investing $135M in growth this year
Weis Markets Inc. Chairman, President and CEO Jonathan H. Weis announced the company’s plans to invest $135 million in its growth during 2021.
Weis made the announcement during the company’s annual shareholder meeting in Sunbury, PA. He said the company continues to invest in new stores, remodels, fuel centers, information technology upgrades and more than a thousand smaller store improvement projects.
“Already this year, we’ve opened a new store in Martinsburg, WV, and a remodeled store in Gap, PA, which was closed for 18 months due to a fire,” he said. “We are currently finishing up work on two stores in the Lehigh Valley, PA, which will open later this spring, and have started work on a new store in Warminster, PA, our second in Bucks County.”
The company also plans eight remodels and eight fuel centers in 2021. While all of these projects will begin in 2021, some may not be completed until 2022.
“We are awed by the efforts of those who work in retail, most especially our Weis associates who took care of our customers during challenging times,” said Weis. “They are among the unsung heroes of the past year.”
Weis also praised the company’s pharmacy team, which has vaccinated more than 145,000 people in Pennsylvania, New York, West Virginia and New Jersey since late January.
Weis and the executive team also briefed shareholders on the company’s results. In FY 2020, it generated $4.1 billion in sales —up 16.1 percent while comparable store sales increased 16.4 percent. Net income increased 74.9 percent to $118.9 million.