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Dec 30, 2023
Weis Markets Q4 2023 Earnings Report
Weis Markets reported results in line with expectations, despite an additional week in 2022 and declining government benefits.
Key Takeaways
Weis Markets reported a decrease in net sales and net income for the fourth quarter of 2023 compared to the previous year. Net sales totaled $1.21 billion, a 7.1% decrease from $1.31 billion in 2022. Net income was $20.52 million, down 28.9% from $28.88 million in the prior year.
Net sales for the fourth quarter decreased by 7.1% to $1.21 billion.
Comparable store sales, adjusted for an additional week in 2022 and excluding fuel, increased by 0.2%.
Net income for the fourth quarter decreased by 28.9% to $20.52 million.
Earnings per share for the fourth quarter were $0.76, compared to $1.07 in 2022.