SUNBURY, Pa., March 7, 2022 /PRNewswire/ — Weis Markets, Inc. (NYSE: WMK) immediately reported monetary outcomes for the 13-week fourth quarter and the 52-week fiscal 12 months ended December 25, 2021.

“We’re proud and grateful for the contributions of our resilient crew of associates who’ve tailored to the challenges of provide chain disruptions, a good job market and inflationary pressures,” mentioned Weis Chairman, President and Chief Government Officer. markets Jonathan H. Weis. “Our associates served our shoppers successfully and delivered robust fourth quarter and financial 2021 monetary outcomes that considerably exceeded pre-pandemic ranges and our authentic expectations.”

“As a retailer who has benefited from the rise in our clients’ meals consumption at residence as a result of COVID-19 pandemic, we observe that the final two fiscal years of internet gross sales and working revenue had been the primary or second-highest in our firm’s 110 years. Working capital from this constructive momentum positions us nicely for the long run to execute on our long-term technique to reinvest prudently for worthwhile progress,” Weis mentioned.

Fourth quarter outcomes

Whole internet gross sales $1.1 billion for the finished 13-week fourth quarter December 25, 2021as in comparison with $1.0 billion for a similar interval of 2020, up 8.0%. Fourth quarter comparable retailer gross sales elevated 6.9% particular person 12 months over 12 months (accelerating sequentially from third quarter enhance of 4.6%) and elevated 21.0% on a two 12 months stacked foundation (accelerating sequentially from the third quarter enhance of 19.4% %).

The Firm’s fourth quarter internet revenue was $22.6 million as in comparison with $19.4 million in 2020, up 16.4%. Fourth quarter earnings per share had been even $0.84 as in comparison with $0.73 per share for a similar interval in 2020.

Fiscal 12 months 2021 Outcomes

Whole internet gross sales $4.2 billion (highest in firm historical past), rising 2.7% for the 52-week fiscal 12 months ended December 25, 2021as in comparison with $4.1 billion (second-highest in firm historical past) for a similar interval in 2020. FY 2021 comparable retailer gross sales elevated 1.7% particular person year-over-year and elevated 18.1% on a biennial foundation.

The Firm’s fiscal 2021 internet revenue was $108.8 million (second highest in firm historical past) vs $118.9 million (the very best in firm historical past) for a similar interval in 2020, down 8.5%. FY 2021 earnings per share have been totaled $4.05 as in comparison with $4.42 per share for a similar interval in 2020.

In fiscal 2021, the Firm elevated its capital funding program, reinvesting greater than $150 million in its progress by opening 4 new/relocated shops and eight restocking facilities, finishing 13 renovations, and executing greater than a thousand retail retailer enchancment tasks which have elevated store-wide efficiencies and enhanced the client expertise.

About Weis Markets

Based in 1912, Weis Markets, Inc. is a Mid-Atlantic grocery retailer working 197 shops worldwide. Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia AND Virginia. For extra data please go to: WeisMarkets.com OR Fb.com/WeisMarkets.

Along with historic data, this press launch could include forward-looking statements, that are included pursuant to the “secure harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are topic to sure dangers and uncertainties that would trigger the precise outcomes differ materially from these anticipated. For instance, dangers and uncertainties can come up with adjustments in: aggressive and reputational dangers; monetary, funding and infrastructure dangers; dangers to data safety, data safety and knowledge privateness; provide chain and third celebration dangers; dangers created by pandemics (together with the present COVID-19 outbreak and associated responses from governments, customers, clients, suppliers and workers); and authorized, regulatory and different exterior dangers. Readers are cautioned to not place undue reliance on forward-looking statements, which replicate administration’s evaluation solely as of immediately’s date. The Firm undertakes no obligation to publicly revise or replace these forward-looking statements to replicate occasions or circumstances occurring after the date hereof. Readers ought to rigorously evaluate the chance elements described in different filings the Firm periodically information with the Securities and Change Fee. Administration additionally gives an evaluation of two-year overlapping comparable retailer gross sales, a non-GAAP measure, as a result of administration believes this metric is beneficial to traders and analysts. It’s not advisable to contemplate the two-year stacked evaluation an alternative to the Firm’s working outcomes reported in accordance with GAAP.

SOURCE Weis Markets