Sunbury, PA (April 28, 2022) – Weis Markets, Inc. (NYSE:WMK) Chairman, President and Chief Executive Officer Jonathan H. Weis today updated shareholders on the company’s plans to invest $150 million in its growth in 2022.
At the company’s annual shareholder meeting in Sunbury, Pennsylvania, Mr. Weis said the company continues to make record investments in new stores, remodels, fuel centers, information technology upgrades and smaller store improvement projects.
“In 2022, we plan to invest more than $150 million in our capital expenditure program,” said Mr. Weis. “This budget includes four new stores, some of which will be completed in the coming years, one expansion, five major remodels and eight fuel centers.”
During the meeting, Mr. Weis reviewed the Company’s progress in 2021, during which it opened replacement stores in Gap, Bethlehem and Macungie, Pennsylvania, along with a new store in Martinsburg, West Virginia. The Company also completed thirteen major remodels, opened nine fuel centers and finished work on more than 1,100 retail store projects which improve efficiencies and customer experience.
“The past two years have been an enormously challenging time for us, but our team has held up well and has done extraordinary things on a daily basis” said Mr. Weis. “Today, Weis associates in every part of our company are helping us feed the communities we serve and grow our business. We are proud and grateful.”
Mr. Weis also reviewed the Company’s 2021 results, saying, “Our growth program, along with strong supply chain performance, disciplined merchandising and consistent in-store conditions, helped us generate a record $4.2 billion in net sales and a 1.7 percent comparable store sales increase in 2021, exceeding record results in 2020. On a two-year stacked basis, our sales increased 18.1 percent.”
About Weis Markets
Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York West Virginia and Virginia. For more information, please visit: WeisMarkets.com or Facebook.com/WeisMarkets.