Weis Markets Q2 Profit Drops - Quick Facts

(RTTNews) - Food retailer Weis Markets, Inc. (WMK) Friday said second-quarter net income declined to $12.8 million from $24.2 million in the prior year. Earnings per share were $0.48 compared to $0.90 per share in 2013.

Sales increased 4.5 percent to $691.9 million from last year's $662.07 million.

Comparable store sales increased 2.9 percent in the quarter.

Jonathan Weis, President and CEO, said, "We have achieved these sales results despite self-imposed grocery department deflation due to our pricing initiatives. Our investments in these price reductions and other sales building programs have resulted in higher sales per customer and an increased customer count."