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Apr 01, 2023
Weis Markets Q1 2023 Earnings Report
Weis Markets' first quarter comparable store sales increased and net sales and income results were reported in line with expectations.
Key Takeaways
Weis Markets reported a 3.7% increase in net sales, totaling $1.14 billion for the first quarter of 2023. However, net income decreased by 17.8% to $25.81 million, with earnings per share at $0.96, compared to $1.17 in the previous year. The company's comparable store sales increased by 3.1%.
Net sales increased by 3.7% to $1.14 billion compared to the previous year.
Comparable store sales increased by 3.1% year-over-year.
Net income decreased by 17.8% to $25.81 million.
Earnings per share decreased to $0.96 from $1.17 in the prior year.
Weis Markets
Weis Markets
Forward Guidance
This news release contains forward-looking statements, which are subject to risks and uncertainties including competitive, financial, data privacy, supply chain, pandemic, and legal risks. The company undertakes no obligation to revise or update these statements.
Challenges Ahead
- Competitive risks
- Financial, investment and infrastructure risks
- Information security, cybersecurity and data privacy risks
- Supply chain and third-party risks
- Risks created by pandemics
- Legal, regulatory and other external risks