Weis reports rise in sales for Q3
SUNBURY, Pa. Weis Markets on Thursday announced its third-quarter net income increased 4.9% to $16.3 million and that its earnings per share for the same period increased 5.2% to 61 cents per share, compared with the same period a year ago.
During the 13-week period ended Sept. 25, the company’s sales increased 2.7% to $640 million while its comparable-store sales increased 0.1%.
“We continue to produce solid earnings increases in a slow growth environment that continues to be affected by cautious consumer spending,” stated Weis president and CEO David Hepfinger. “We attribute our results to continuing operational improvements at store and distribution levels, increased efficiencies, improved cost controls, and disciplined marketing and advertising.”
Save-A-Lot opens distribution center
ST. LOUIS Supervalu subsidiary and hard-discount grocery retailer Save-A-Lot will open a new distribution center in North Carolina.
The retailer said its 325,000-sq.-ft. distribution center in Lexington, N.C., is scheduled to open in December 2011. The new building will be a state-of-the-art food distribution center utilizing the latest in green technologies, including lights that only operate when a person is present and an HVAC system that uses smart thermostats, Save-A-Lot said.
“The Lexington distribution center will enable us to serve our current stores more efficiently and at the same time, grow our business in the region,” said Bill Shaner, Save-A-Lot president and CEO.
Save-A-Lot operates approximately 1,200 stores in 39 states, and said it plans to double the number of stores it operates nationally over the next five years.
Safeway’s Q3 down 4.5%
PLEASANTON, Calif. — Safeway on Thursday reported net income of $122.8 million for the third quarter ended Sept. 11, down 4.5% as compared with the year-ago period. Results for the third quarter included $12 million in employee severance charges, offset by a lower tax rate, compared with third quarter 2009.
"Our third-quarter results were in line with our expectations," stated Steve Burd, chairman, president and CEO. "The trend in price per item improved during the quarter. … We continue to tailor our offerings to the changing needs of our customers, with innovative consumer brand launches of Refreshe beverages and In-Kind personal care products, while offering lower everyday prices and attractive club card specials."
Total sales were down 1% to $9.4 billion in the third quarter. Same-store sales were down 2% due to a decline in price-per-item.