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Sep 30, 2023
Weis Markets Q3 2023 Earnings Report
Weis Markets' third quarter earnings decreased due to higher expenses and reduced government benefits.
Key Takeaways
Weis Markets reported a slight increase in net sales for the third quarter of 2023, with comparable store sales also showing a modest rise. However, net income and earnings per share decreased compared to the same period in the previous year.
Net sales increased by 0.8% to $1.16 billion compared to the same quarter in 2022.
Comparable store sales increased by 0.8% year-over-year and 8.7% on a two-year stacked basis.
Net income decreased by 19.0% to $23.23 million, compared to $28.66 million in 2022.
Earnings per share totaled $0.86, down from $1.07 in the same period last year.