At Weis Markets’ annual shareholders meeting held on April 28 at its corporate offices in Sunbury, PA, Jonathan Weis, chairman and chief executive officer, told stakeholders that the supermarket operator plans to invest $150 million in its growth in 2022.
Weis noted 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,” he said. “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, Weis reviewed the retailer’s progress in 2021, during which it opened replacement stores in Gap, PA; Bethlehem, PA; and Macungie, PA, along with a new store in Martinsburg, WV. The company also completed 13 major remodels, opened nine fuel centers and finished work on more than 1,100 retail store projects designed to 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 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.”
In light of Weis’ significant sales growth over the past two years, the 54-year old CEO was asked if the regional chain was planning an expansion of its current distribution network. Weis said that the company was reviewing its distribution center needs, but no decision has yet been made. Weis’ primary grocery warehouse is located in Milton, PA, about 15 miles from Sunbury. In 2017, it was enlarged by 210,000 square feet to 1.3 million square feet.
The youthful looking executive 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.”
