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Mar 28, 2020
Weis Markets Q1 2020 Earnings Report
Reported an increase in sales and net income during the first quarter, driven by the COVID-19 pandemic.
Key Takeaways
Weis Markets reported a 12.4% increase in sales to $985.8 million and an 86.6% increase in net income to $26.7 million for the first quarter of 2020. The results were significantly impacted by the onset of the COVID-19 pandemic, which led to a surge in customer count and sales.
Sales increased by 12.4% to $985.8 million compared to the same period in 2019.
Comparable store sales increased by 12.8%.
Net income increased by 86.6% to $26.7 million compared to $14.3 million in 2019.
Earnings per share totaled $0.99 compared to $0.53 per share for the same period in 2019.
Weis Markets
Weis Markets
Forward Guidance
Company did not provide forward guidance.