Weis Markets had an extreme rise in profits for their first quarter. Weis Markets trades on the “New York Stock Exchange” under the stock symbol “WMK”. For More information regarding “WMK” or the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Weis Markets (NYSE:WMK) had an extreme rise in profits for their first quarter after a period of time that involved an immense amount of promotional work. Weis summed up their promotional spending to be roughly around $3 million during their first quarter which helped increase sales.
Earnings grew 6 percent to $17.4 million, or 65 cents per share, from $16.5 million, or 61 cents per share, a year ago. Revenue for the period ended March 27 climbed 10 percent to $664.3 million.
About Weis Markets:
Weis Markets, Inc. engages in the retail sale of food 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, as well as general merchandise items, such as health and beauty care and household products. As of December 31, 2009, it operated 160 retail food stores comprising 24 stores in Maryland, 3 stores in New Jersey, 12 stores in New York, 119 stores in Pennsylvania, and 2 stores in West Virginia under the Weis Markets trade name, as well as operated 1 Save-A-Lot and 3 Scot’s Lo-Cost retail food stores in Pennsylvania. The company was founded in 1912 and is based in Sunbury, Pennsylvania.
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