News

Weis 3Q sales down vs. last year as the grocer cycles through sales lifts from hurricanes Irene, Lee

BY Michael Johnsen

SUNBURY, Pa. — Weis Markets on Friday reported third-quarter net income of $17.2 million, up 1.2% for the period ended Sept. 29, while its earnings per share increased 1.6% to $0.64 per share compared to the same period in 2011.

For the period, Weis sales decreased 1.5% to $668.4 million, while comparable stores decreased 1.7%. Weis went up against tough comparisons in the period, the grocer reported. For the period last year, hurricanes Irene and Lee lifted sales across many of its stores in the Pennsylvania and New York markets as shoppers scrambled for emergency supplies in the wake of flooding. 

Compared to the same period in 2011, the company’s third-quarter sales also were impacted by a $4.5 million decline in pharmacy sales due to the conversion of brand drugs to generic. As part of its strategy to offset this decline, the company has expanded its immunization programs.

Weis credited its net income and operating income increases to disciplined promotions and marketing, increased store-level productivity, improved operational and supply chain efficiencies, and a decrease in depreciation expenses due to its change of depreciation methods from accelerated to straight-line.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Getting the shot

BY Antoinette Alexander

A growing number of patients have either already received or plan to receive a flu shot this year versus a year ago, and it should also be noted that more patients continue to embrace community pharmacy as a preferred destination for flu vaccinations. However, there is still plenty of room for improvement, according to the most recent Patient Views infographic. According to an exclusive survey of more than 900 patients conducted by AccentHealth and DSN in September, 57% of patients have received or plan to receive a flu shot this year, versus 53% in 2011.

To see more Patient Views, click here.

Patient Views is a new, exclusive consumer insights feature that will be appear in every edition of DSN magazine and the daily e-newsletter DSN A.M. If you could ask 4,000 patients anything at all, what would it be? Send your questions to reder@lf.com.

 

Source: AccentHealth. To view the methodology, click here.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Survey: More holiday shoppers looking to increase gift-giving this year

BY Michael Johnsen

SAN ANTONIO — Consumers plan to buy more gifts this year, according to a recent survey commissioned by USAA and released Monday. The fourth annual USAA holiday spending survey indicated that consumer sentiment toward holiday budgeting has become more positive in 2012 when compared to 2011 (53% vs. 45%).

“This year’s survey data aligns with recent reports that holiday sales growth is expected to remain above the 10-year growth rate,” stated JJ Montanaro, USAA spokesman. “Even with the current mixed economic picture, shoppers seem to have more optimism this holiday season, which may be encouraging them to open their wallets.”

For the third year in a row, fewer holiday shoppers plan on cutting their holiday spending and creating a budget. In 2010, 40% of shoppers reported plans to scale back, compared to 31% in 2011 and 24% in 2012. And 61% planned on budgeting for their holiday purchases in 2010, compared to 57% in 2011 and 55% in 2012.

This year’s survey findings underscore the growing trend of mobile shopping with 56% of respondents planning to use their mobile devices as a tool for comparison shopping, downloading coupons, searching for availability in stores and making purchases. According to a recent survey, consumers spent more than $20.7 billion shopping using mobile devices in 2012 and tend to spend an average of $10 more per purchase using their tablet.

USAA, a financial services provider with fully integrated solutions that focuses on serving military members and their families, commissioned the survey to determine how consumers plan to approach their holiday spending and budgeting activities this year compared to the previous years’ surveys on this topic.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?