Weis Markets Invests $109 Million in Growth
SUNBURY, PA - Weis Markets has announced plans to invest more than $100 million into growing its operations—a plan that includes new stores, remodels, supply chain improvements, and continued information technology upgrades. Chairman and Chief Executive Officer Jonathan H. Weis made the announcement this Thursday, earmarking $109 million for those upgrades.
“As part of our company’s commitment to long-term growth, we will invest roughly $109 million in our store base and support areas,” said Weis at the company’s annual shareholder meeting in Sunbury, PA. “This includes a new store in Bedminster, PA, as well as 14 store remodels, six fuel centers, supply chain, and information technology investments.”
In a press release, the company noted that its income from operations had increased by 9.4 percent year over year, and Weis noted that his company’s sales increased to a record $3.5 billion in 2018, with comparable store sales having increased 18 of the past 19 quarters—progress attributable to Weis Markets’ store base and information technology investments.
Sales and operating income benefited from targeted holiday promotions through its loyalty marketing program, price optimization improvements, and more efficient store-level inventory management, Weis noted. The CEO also updated shareholders on the company’s e-commerce initiatives and the expansion of its Weis 2 Go Curbside Pick-Up Service.
“Our e-commerce investments helped generate a 33.2 percent increase in our online sales. Today, we offer online ordering with curbside pickup in 125 stores while 174 of our stores offer home delivery via Shipt, a leading online delivery service. Online ordering is a growing segment of our business that we expect to grow exponentially in the coming years,” added Weis, who also noted the 10th anniversary of Weis Markets’ award-winning sustainability program.
“Over the past 10 years, our team has made considerable progress with our sustainability program, far exceeding our initial expectations,” Weis said. “In 2015, we met our 2020 goal of reducing our total carbon emissions by 20% compared to 2008, five years ahead of schedule; we look forward to building on our progress in the years ahead."
For updates into Weis Markets’ ongoing efforts to expand and improve throughout 2019, keep reading AndNowUKnow.
