Stock Track | Weis Markets Soars 5.04% Following Strong Q2 Earnings Report and Sales Growth

Stock Track08-07

Weis Markets (WMK) stock is soaring 5.04% in intraday trading on Wednesday following the release of its strong second-quarter earnings report. The regional food retailer reported impressive financial results, demonstrating resilience in a challenging economic environment.

For the quarter ended June 28, Weis Markets posted net sales of $1.22 billion, marking a 2.8% increase compared to the same period last year. When adjusted for the Easter holiday shift, net sales were up 1.6%. The company's earnings per share (EPS) rose to $1.01, up from $0.98 in the previous year, while net income increased by 1.0% to $26.53 million.

Investors were particularly encouraged by Weis Markets' comparable store sales growth, which excluding fuel, rose 2.3% year-over-year and 2.6% on a two-year stacked basis. The company attributed its success to significant price investments made to address cautious customer spending amid ongoing market changes and macroeconomic uncertainty. Additionally, Weis Markets opened a new store in Maryland's Frederick County during the quarter, contributing to its growth strategy. The company also announced plans to open another store in Charlotte Hall, Maryland, later this summer, signaling continued expansion efforts.

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