Weis Markets Reports Q4 and Fiscal Year 2024 Earnings Growth Amid Operational Challenges

Sunbury, PA – Weis Markets, Inc. (NYSE: WMK) announced its financial results for the 13-week fourth quarter and the 52-week fiscal year ended December 28, 2024, in a filing with the Securities and Exchange Commission and an accompanying news release.

For the fourth quarter, the company reported net sales of $1.23 billion, an increase of 1.2 percent compared to the same period in 2023. Comparable store sales, excluding fuel, rose 1.1 percent on an individual year-over-year basis and 1.3 percent on a two-year stacked basis. Net income for the quarter increased by 69 percent to $34.68 million, with earnings per share improving to $1.29 from $0.76 in the year-earlier period.

For the full fiscal year 2024, net sales grew 1.6 percent to $4.77 billion over the previous year. The company reported a 1.9 percent increase in comparable store sales, excluding fuel (individual year), and a 4.2 percent gain on a two-year stacked basis. Net income reached $109.94 million, up 5.9 percent compared to fiscal 2023, while fiscal earnings per share rose to $4.09 from $3.86.

Chairman, President and CEO Jonathan H. Weis credited the results to the efforts of company associates who helped manage inflation and supply chain challenges. “Several factors helped us achieve our results including sustained price investments, disciplined advertising and loyalty marketing programs, along with the successful integration of technology to help us improve efficiencies and manage expenses while offering a consistently strong customer experience,” he said. Mr. Weis also highlighted the strong performance in e-commerce sales, which increased 46 percent during fiscal 2024, and noted the progress on store development projects, including the acquisition and conversion of two stores as well as the commencement of construction on four new stores in growing markets.

In addition to the financial performance, the Weis Markets Board of Directors declared a quarterly cash dividend of $0.34 per share, payable on March 4, 2025, to shareholders of record as of February 18, 2025.

The company’s results are detailed further in a news release filed as an exhibit to the Form 8-K.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Weis Markets’s 8K filing here.

About Weis Markets

Weis Markets, Inc engages in the retail sale of food through a chain of supermarkets in Pennsylvania and surrounding states. The company’s retail food stores sell groceries, dairy products, frozen foods, meats, seafood, fresh produce, floral, pharmacy services, deli products, prepared foods, bakery products, beer and wine, and fuel; and general merchandise items, such as health and beauty care, and household products.