Weis markets reports results for 2018 and fourth quarter gas unlimited

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SUNBURY, Pa., March 11, 2019 /PRNewswire/ — Weis Markets, Inc. (NYSE: WMK) today reported record total sales of over $3.5 billion for the 52-week period ended December 29, 2018, up 1.2 percent compared to the same period a year ago, while annual a gas station comparable store sales increased 0.7 percent. Income from operations rose $7.2 million, or 9.4 percent to $83.6 million compared to $76.4 million for the same period in 2017.

The Company’s annual and fourth quarter net income comparisons are impacted by the federal government’s implementation of the Tax Cuts and Jobs Act (Tax Reform) in 2017. The Company realized a $49.3 million decrease in its deferred income tax due to this legislation, which improved net 66 gas station near me income in both its 2017 and fourth quarter results. The current annual results contain no such benefit. Annual net income totaled $62.7 million (-36.3 percent) compared to $98.4 million in 2017. Annual earnings per share totaled $2.33 compared gas 93 octane to $3.66 per share in 2017.

We made significant forward progress in 2018 by driving sales, investing in our store base and information technology and by improving store-level efficiencies, said Weis Markets Chairman and CEO Jonathan Weis. The result was a 9.4 percent increase in annual operating income and increased comparable store sales in 2018. During the year, we also expanded online ordering with in-store pickup and home delivery to 173 stores 3 gases in the air which resulted in more than 100,000 orders and a 33.2 percent increase in online sales.

Income from operations in the fourth quarter totaled $17.2 million compared to $22.3 million electricity human body in the same period in 2017. As previously noted, the fourth quarter in 2017 was impacted by the favorable $49.3 million decrease in the Company’s deferred income tax due to the federal government’s implementation of the Tax Cuts and Jobs Act (Tax Reform) in 2017. The current period contains no such benefit. The Company gas monkey’s fourth quarter net income declined 79.2 percent to $13.2 million compared to $63.7 million in 2017, while earnings per share totaled $0.49 compared to $2.37 per share for the same period in 2017.

In addition to historical information, this news release may contain forward-looking statements, which are included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results gas finder map to differ materially from those projected. For example, risks and uncertainties can arise with changes in: general economic conditions, including their electricity a level physics 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. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management gas pain’s analysis only as of the date hereof. 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. Readers should carefully review the risk factors described in other documents the Company files periodically with the Securities and Exchange Commission.