Weis Markets is investing in growth. The regional grocer announced it would invest $101 million in its growth program in 2014. The investment will go towards 16 projects, including two new stores under construction in Selinsgrove and Enola, Pennsylvania, supply chain improvements and an expansion of its 1.1 million-square-foot distribution center in Milton, Penn.
Weis Markets has invested more than $500 million in growth and improvement programs for roughly 100 projects since 2008, said Weis Markets president and CEO Jonathan Weis at the company's annual shareholder meeting.
Looking ahead, the company plans to focus on improving its supply chain process. Over the last year, Weis Markets has maximized efficiency in its supply chain which has resulted in a reduction of store level inventories, Weis said.
Sunbury, Penn.-based Weis Markets operates 166 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia.
News of the growth program comes as Weis attempts to bounce back from slow sales last quarter. Despite opening four new stores last year, sales dropped 1.1 percent during the fourth quarter ended December 28, 2013 to $686 million. Same-store sales declined 3.5 percent. For the fiscal year, sales were essentially flat at roughly $2.7 billion and same-store sales declined 2.6 percent. The company partly attributed the losses to factors including bad weather, cuts to the food stamp program and multiple manufacturer recalls.
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