WEIS MARKETS REPORTS SECOND QUARTER 2023 RESULTS – Weis Markets (NYSE:WMK) – Press Release

Company’s second quarter comparable store sales increased 3.5 percent

SUNBURY, Pa., Aug. 7, 2023 /PRNewswire/ –Weis Markets, Inc. WMK today reported its financial results for the 13-week second quarter and 26-week year-to-date period ended July 1, 2023.

“In the second quarter, we generated solid results due to the hard work and commitment of our associates at every level of our company,” said Weis Markets, Inc.’s Chairman and Chief Executive Officer Jonathan H. Weis. “We continue to make strategic investments for long-term profitable growth which benefits our associates, customers, communities, and shareholders. We are keenly aware that our customers are looking for value and savings as they navigate the challenges of inflation, higher interest rates, and reduced government benefits.”

On July 27, the Weis Markets, Inc. Board of Directors declared a quarterly cash dividend of $0.34 per share to shareholders of record as of August 7, 2023, payable on August 21, 2023.

Second Quarter 2023 Results
Net sales totaled $1.18 billion for the 13-week second quarter ended July 1, 2023, compared to $1.14 billion for the 13-week second quarter ended June 25, 2022, up 3.8 percent. Second quarter comparable store sales increased 3.5 percent on an individual year-over-year basis and increased 11.9 percent on a two-year stacked basis.

The Company’s second quarter net income totaled $34.27 million compared to $36.27 million in 2022, down 5.5 percent. Second quarter earnings per share totaled $1.27 compared to $1.35 per share in 2022.

Year-To-Date 2023 Results
Net sales totaled $2.32 billion for the 26-week year-to-date period ended July 1, 2023, compared to $2.24 billion for the same period in 2022, up 3.8 percent. Year-to-date comparable store sales increased 3.3 percent on an individual year-over-year basis and increased 12.2 percent on a two-year stacked basis.

The Company’s year-to-date net income totaled $60.08 million compared to $67.66 million in 2022, down 11.2 percent….

The post WEIS MARKETS REPORTS SECOND QUARTER 2023 RESULTS – Weis Markets (NYSE:WMK) – Press Release appeared first on CaymanMama.com.

from CaymanMama.com https://ift.tt/VX6WeAD