Weis Markets 2Q Profit Falls 29%
Sunbury, Pa. Weis Markets Inc., the operator of a supermarket chain, said Monday its second-quarter earnings fell 29%. The company attributed the slowdown to rising fuel and card transaction fees.
Net income for the quarter ended June 28 fell to $12.8 million, from $18.2 million during the comparable period a year earlier. Net sales at Weis Markets rose 4% to $603.4 million during the quarter, from $578.8 million during the year-ago period. Same-store sales rose 4.3% during the quarter.