Weis Markets Profit Rises On Lower Costs - Quick Facts

(RTTNews) - Food retailer Weis Markets Inc. (WMK) Friday posted an increase in second-quarter net income to $24.2 million or $.90 per share from $23.2 million or $0.86 per share last year. Results were helped by a decline in total expenses.

Sales for the quarter meanwhile declined 2.2% to $662 million from $677 million a year ago.

On a same-store basis, sales were down 4.8%.

"While our market share remains stable, our sales were impacted by the continuing trend of cautious consumer spending and a challenging comparison to the same period in 2012 when we opened three new stores and were aggressively promoting a new replacement unit," said CEO David Hepfinger.