News

Weis Markets Q3 sales up 4.1%

BY Michael Johnsen

SUNBURY, Pa.- Weis Makets on Tuesday reported that sales for the third quarter of 2015 increased 4.1% to $711.9 million, while comparable store sales increased 4% compared to the third quarter in 2014. 
 
For the 39-week period ended Sept. 26, 2015, the company's sales increased 3.9% to $2.1 billion while comparable store sales increased 3.9% compared to the same 39-week period ended September 27, 2014. 
 
Weis Markets provided preliminary unaudited sales results for the third quarter ended Sept. 26 pending a full release of its third quarter results following a review and analysis of self-insurance reserves to determine if any adjustments to its historical financial statements are necessary. The company expects to file its quarterly report on Form 10-Q prior to Dec. 1, 2015.  
 
While researching alternative methods to calculate retained claim liability for the company's self-insured workers compensation and general liability insurance programs, it was determined that adjustments would be necessary to the prior application of actuarial methods used to estimate the obligation of future payments resulting from claims due to past events.  
 
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

Ahold USA’s new produce format delivering Q3 results

BY Michael Johnsen

ZAANDAM, The Netherlands — Ahold's third-quarter same-store sales in the United States excluding gas were up 1.8%, reflecting an improved customer proposition the company reported Wednesday.
 
Total third quarter net sales of $5.6 billion were up 16.6%. Excluding gas, net sales at constant exchange rates were 0.8% higher than last year, while reported identical sales growth excluding gas was 0.4%.
 
Ahold continues to roll-out its new produce department format, launching it to another 149 stores during the quarter, bringing the total to 316 stores. "We are starting to see really encouraging results," Jeff Carr, Ahold CFO, reported in the above video (he starts talking about U.S. operations at about the 2' mark). 
 
And Ahold's online grocer Peapod achieved double-digit sales growth with improved capacity usage at its newest distribution facility.
 
On July 20, Stop & Shop New York Metro entered into a conditional agreement to acquire stores from A&P. On Oct. 8, all conditions had been met and Ahold commenced the purchase of the 25 stores. The conversion of the stores is ongoing, with the final group of stores expected to be converted in mid-November.
 
 
 
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

Roundy’s reports mixed results on day of Kroger announcement

BY Michael Johnsen

MILWAUKEE — Roundy’s reported a net loss of $8.6 million from continuing operations for the 13 weeks ended Oct. 3 on Wednesday, the day Kroger announced its acquisition of the midwest grocer. Net sales from continuing operations decreased 0.2% to $971.8 million. 
 
Same-store sales from continuing operations decreased 3.4%, which was due to a 4.2% decrease in the number of customer transactions, partially offset by a 0.8% increase in the average transaction size.
 
“Our third quarter results were disappointing as sales and EBITDA did not meet our expectations,” Robert Mariano, Roundy's chairman, president and CEO, said. “The sales shortfall was primarily due to continued competitive store openings in our Wisconsin markets. Despite a very competitive pricing environment, we were pleased to maintain our gross margin rate compared to the prior year. We remain committed to our strategic initiatives, improving execution, and profitably growing sales across all of our markets.”
 
Net sales for the company’s Wisconsin markets were $619 million for the third quarter 2015, a decrease of $50.4 million, or 7.5%, from $669.4 million for the third quarter 2014. The decrease primarily reflects the closure of three stores during the fourth quarter of 2014 and one store during the second quarter of 2015 and a decrease in same-store sales, the company said. Same-store sales decreased 3.7%, due to a 4.1% decrease in the number of customer transactions, partially offset by a 0.4% increase in the average transaction size. 
 
Net sales for the company’s Illinois market were $352.8 million for the third quarter 2015, an increase of $48.4 million, or 15.9%, from $304.4 million for the third quarter 2014. The increase primarily reflects the benefit of new stores in Illinois, partially offset by a 2.6% decrease in same-store sales. The decrease in same-store sales was due to a 4.2% decrease in the number of customer transactions, partially offset by a 1.6% increase in the average transaction size. Same-store sales were negatively impacted by the cannibalization effect of new and acquired store openings in the Illinois market. In addition, same-store sales have been negatively impacted by the reopening of a significant number of former Dominick’s stores that were initially closed in early 2014 and are now operated by other competitors.
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?