Weis Markets Reports Fourth Quarter Results

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Journey Grp	LSE:WMK	London	Ordinary Share	GB0009422097	ORD 1P

Share Name

Share Symbol

Market

Type

Share ISIN

Share Description

Journey Grp

LSE:WMK

London

Ordinary Share

GB0009422097

ORD 1P

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0.00

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5.13

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Weis Markets Reports Fourth Quarter Results

04/02/2009 6:15pm

PR Newswire (US)

Watermark (LSE:WMK)
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SUNBURY, Pa., Feb. 4 /PRNewswire-FirstCall/ -- Weis Markets, Inc. (NYSE: WMK) today said its fourth quarter sales increased 2.7% to $619.4 million while basic and diluted earnings per share increased $.31 to $.63 per share. For the thirteen-week period ending December 27, 2008, the Company's comparable store sales increased 2.2% and its net income increased 97.6% to $17.0 million. "Our fourth quarter sales and net income increases were due to the continuing success of our targeted promotional and transaction building programs combined with key improvements in our store operating practices and increased efficiencies at store and distribution levels," said David J. Hepfinger, Weis Markets' President and CEO. "We continue to operate in a tough economic environment, which is clearly impacting our customers' purchasing decisions. However, we believe our continuing operational improvements along with our aggressive merchandising and marketing programs will help us to make substantial progress with our sales and profits in 2009." Year to Date Company sales increased 4.5% to $2.4 billion for the 52-week period ending December 27, 2008, and comparable store sales increased 4.3%. Basic and diluted earnings per share declined $.15 to $1.74 per share, while net income declined 7.8% to $47.0 million. ABOUT WEIS MARKETS Founded in 1912, Weis Markets is a Mid-Atlantic supermarket company. It currently operates 154 stores in five Mid-Atlantic States: Pennsylvania, Maryland, New Jersey, New York and West Virginia. In addition to historical information, this news release may contain forward-looking statements. Any forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. For example, risks and uncertainties can arise with changes in: general economic conditions, including their impact on capital expenditures; business conditions in the retail industry; the regulatory environment; rapidly changing technology and competitive factors, including increased competition with regional and national retailers; and price pressures. The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof other than through its periodic filings with the Securities and Exchange Commission that are available to the public. WEIS MARKETS, INC. COMPARATIVE SUMMARY OF UNAUDITED SALES & EARNINGS Fourth Quarter - 2008 13 Week 13 Week Period Ended Period Ended Increase Dec. 27, 2008 Dec. 29, 2007 (Decrease) ------------- ------------- ---------- Net Sales $ 619,408,000 $602,977,000 2.7% Income Before Taxes 26,365,000 12,900,000 104.4% Provision for Income Taxes 9,353,000 4,290,000 118.0% --------- --------- ------ Net Income $17,012,000 $8,610,000 97.6% ========== ========= ===== Weighted-Average Shares Outstanding 26,966,000 26,986,000 (20,000) Basic and Diluted Earnings Per Share $0.63 $0.32 $0.31 52 Week 52 Week Period Ended Period Ended Increase Dec. 27, 2008 Dec. 29, 2007 (Decrease) ------------- ------------- ---------- Net Sales $2,422,361,000 $2,318,551,000 4.5% Income Before Taxes 70,113,000 77,759,000 (9.8%) Provision for Income Taxes 23,118,000 26,769,000 (13.6%) ---------- ---------- ------ Net Income $46,995,000 $50,990,000 (7.8%) ========== ========== ===== Weighted-Average Shares Outstanding 26,967,000 26,994,000 (27,000) Basic and Diluted Earnings Per Share $1.74 $1.89 ($0.15) DATASOURCE: Weis Markets, Inc. CONTACT: Dennis V. Curtin of Weis Markets, Inc., +1-570-286-3636,

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