Latest news with #JonathanWeis
Yahoo
09-05-2025
- Business
- Yahoo
Weis Markets' Q1 FY25 performance in line with expectations
Mid-Atlantic US food retailer Weis Markets has recorded total revenue of $1.2bn in the first quarter (Q1) of fiscal 2025 (FY25) - 1.6% up from the $1.18bn reported in the corresponding quarter of the previous year. Net income for Weis Markets in the 13-week quarter amounted to $20.48m, a decrease from the $23.17m recorded in Q1 FY24. Its diluted earnings per share for the quarter stood at $0.76, a decline from the $0.86 reported during the same period of the previous year. The retailer's operating income also saw a downturn, coming in at $23.04m for Q1 FY25, compared to $27.36m during Q1 FY24. However, gross profit on sales showed improvement, totalling $299.5m in Q1 FY25 from $295.01m in the previous year's corresponding quarter. Weis Markets chairman, president and CEO Jonathan Weis stated: "Our first quarter 2025 results, adjusted for the year-on-year Easter holiday shift, are in line with our expectations despite the challenges of an uncertain macroeconomic environment. "During the quarter, our net sales benefited from significant regional weather events, continuing product price investments, and the increased tempo of our loyalty marketing rewards programme. In addition, we continue to make strategic cost investments in our associates and technologies that improve efficiencies and enhance customer experience. We remain truly grateful to our associates for their efforts to provide excellent service to our customers." Weis Markets plans to construct four new stores exceeding 60,000ft² each with modern features and sustainable technologies in 2025. The company anticipates opening three stores by the end of the year, and the fourth early in 2026. They will be located in Maryland's Lake Linganore, Charlotte Hall and Waldorf communities, and in Middletown, Delaware. "In 2024, we completed work on 17 projects including six major remodels, nine minor remodels and two fuel centres," stated Weis. The retailer operates 198 stores in Delaware, Maryland, New Jersey, New York, Pennsylvania, West Virginia and Virginia. "Weis Markets' Q1 FY25 performance in line with expectations" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
09-05-2025
- Business
- Yahoo
Weis Markets ramps up store development
You can find original article here Supermarketnews. Subscribe to our free daily Supermarketnews newsletter. Weis Markets on Wednesday said it plans to open three new stores in 2025 and one in early 2026, marking its first new-store construction since 2022. The Sunbury, Pa.-based company unveiled the plans as it reported an 11.6% decrease in net income for the first quarter, to $20.5 million, compared with the first quarter of a year ago. Revenues were up 1.6%, to $1.2 billion, and comparable-store sales rose 1%. Adjusting for the Easter holiday, which took place in Q1 last year but in Q2 this year, the company estimated that Q1 sales rose 2.7% and comp-store sales rose 2.1% in this year's first quarter. 'During the quarter, our net sales benefited from significant regional weather events, continuing product price investments, and the increased tempo of our loyalty marketing rewards program,' said Jonathan H. Weis, chairman, president, and CEO. The company did not disclose specific reasons for the profit decline relative to a year ago, although Weis noted that the company was making 'strategic cost investments' in its workers and in technologies aimed at improving efficiencies and enhancing the customer experience. Although Weis Markets' gross profit as a percent of sales was about even with the year-ago first quarter, its operating, general, and administrative expenses (OGA) rose about 3%, to $276.5 million. Investment income was also down about $1.1 million in the most recent quarter. A spokesman for the company declined to elaborate on the profit decline. The company said all four of the new stores in construction will measure more than 60,000 square feet, well above the 49,000 average square footage for a Weis supermarket. The planned openings for this year are in Lake Linganore and Charlotte Hall, Md., and Middletown, Del. The fourth store is slated to open early next year in Waldorf, Md., the Weis spokesman told Supermarket News. Each of the new locations will include new features, expansive fresh departments, fuel centers, and sustainable technologies, the company said. In its 2024 annual report, Weis said several construction projects from recent years had been delayed due to labor and supply chain disruptions. Last year Weis completed six major remodels, nine minor remodels, and opened two new fuel centers. The company also acquired two former Sunnyway Food stores in Pennsylvania last year and ended fiscal 2024 with 198 locations. 'Our first quarter 2025 results, adjusted for the year-over-year Easter holiday shift, are in line with our expectations despite the challenges of an uncertain macroeconomic environment.'—Jonathan H. Weis, chairman, president, and CEO, Weis Markets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-02-2025
- Business
- Yahoo
Blenheim Group Announces Weis Markets Groundbreaking and Signing of Leases with Several National Tenants at Bayberry Town Center
Momentum Builds as Premier 280,000 SF Mixed-Use Center in Middletown, DE Takes Shape MIDDLETOWN, Del., February 24, 2025--(BUSINESS WIRE)--Blenheim Group is pleased to announce that construction has started on Weis Markets at Bayberry Town Center, a highly anticipated 280,000-square-foot mixed-use retail destination in north Middletown, Delaware. The 64,000-square-foot store will be Weis Markets' fourth store in Delaware and its first ground-up development in the state. It will feature Weis Markets' latest in innovative store design, including expansive fresh departments, a pharmacy, a grocery department with excellent variety, as well as a Weis Gas N' Go fuel center. Customers will be able to order groceries online with the option of home delivery or in-store pick-up. Both the grocery store and the fuel center are projected to open Q4 2025. "It is great to get started," said Weis Markets Chairman, CEO and President Jonathan Weis. "When completed, our new Bayberry store will offer a strong combination of quality, value and convenience. We look forward to serving the Village of Bayberry and the surrounding communities." The Bayberry Town Center project is gaining significant momentum, with a strong lineup of national and local tenants wanting to establish a presence in this growing trade area. Chipotle, McDonald's, and Bloom Nail Salon have signed leases. Blenheim Group is in negotiations with Chase Bank, Wingstop, UPS, Great Clips, and Verizon to finalize their leases. Additional first-class retailers, restaurants, and service providers are in active discussions to secure space. The first buildings will begin construction this spring, with grand openings expected between fall 2025 and spring 2026. To celebrate the start of construction of this premier retail destination, a groundbreaking ceremony is planned at Bayberry Town Center this spring. Date and time to be announced. "With this mix of nationally and locally known tenants, Bayberry Town Center will be a dynamic retail destination with convenient access to essential offerings for the community," said Jay Sonecha, President of Blenheim Group. "We're thrilled these tenants have chosen Bayberry Town Center for their next locations and look forward to celebrating our groundbreaking." Once complete, Bayberry Town Center will be a vibrant gathering place designed to complement the Village of Bayberry, a thriving, rapidly growing master-planned community developed by the Blenheim Group. The center will feature: Seamless connectivity: internal streets and trails link over 3,000 homes directly to the center 145 townhomes integrated into the center Two beautiful green spaces for community programming Located along Boyds Corner Road (Rt. 896) between Jamison Corner Road and Routes 1 & 13, The Village of Bayberry includes nearly 2,700 homes (over 2,000 already sold) and 600 acres of open space, offering miles of walking paths, parks, playgrounds, lakes, and luxury clubhouses. Bayberry Town Center has additional in-line and pad site restaurant and retail space available. For leasing opportunities, please contact Jim Tancredi with LMT Commercial at JTancredi@ or (302) 222-7574. About Bayberry Town Center Bayberry Town Center is a planned mixed-use center with 280,000 square feet of retail and office space located within the thriving community of The Village of Bayberry just north of Middletown, Delaware. Anchored by a first-class, 64,000-square-foot Weis Markets grocery store and gas station, the center will feature a diverse mix of retail, restaurants, and services, offering convenience and variety to attract shoppers and drive tenant success. Developed by Blenheim Group, it aims to support the rapidly growing Village of Bayberry and neighboring residential communities with much-needed retail and dining options. With its inviting nature and abundance of community gathering spaces, Bayberry Town Center seeks to blend small-town charm and modern-day conveniences. Download Bayberry Town Center Brochure About Weis Markets Founded in 1912, Weis Markets, Inc. is a Mid-Atlantic food retailer operating 198 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia. View source version on Contacts Bayberry Town Center Media Contact: Britni Ackrivo backrivo@ (484) 504-9920 Leasing Contact: Jim Tancredi, LMT Commercial JTancredi@ (302) 222-7574
