Earnings release
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weis markets NEWS RELEASE Contact : Dennis Curtin Weis Markets , Inc. 570-847-3636 dennis.curtin@weismarkets.com Exhibit 99.1 FOR IMMEDIATE RELEASE WEIS MARKETS REPORTS THIRD QUARTER RESULTS Company's comparable store sales increase 4.6 percent in third quarter Sunbury , PA ( November 1 , 2021 ) - Weis Markets , Inc. ( NYSE : WMK ) today reported its financial results for the thirteen - week period and 39 - week period ended September 25 , 2021 . Net sales totaled $ 1.1 billion for the thirteen - week period ended September 25 , 2021 , compared to $ 1.0 billion for the same period in 2020 , up 6.1 percent . Third quarter comparable store sales increased 4.6 percent on an individual year - over - year basis and increased 19.4 percent on a two - year stacked basis . The Company's third quarter net income totaled $ 28.5 million compared to $ 31.3 million in 2020 , down 9.0 percent . Third quarter earnings per share totaled $ 1.06 compared to $ 1.16 per share for the same period in 2020 . " We continued to generate strong results in the third quarter , " said Weis Markets ' Chairman , President and CEO Jonathan H. Weis . “ Our hard - working and dedicated associates are the key to our success . They continue to help us navigate through the challenges of a pandemic - impacted marketplace which includes a tight labor market , supply chain disruptions , and product cost inflation resulting in some consumer resistance . " In addition to the Company's longstanding holiday bonus programs , Mr. Weis said the Company will be paying an appreciation bonus in January to most associates , as it has done periodically in the past 18 months , for their ongoing efforts to serve customers . The Company also increased its 2021 capital expenditures outlook to $ 150 million , up 11.1 percent from the $ 135 million budget announced at its annual shareholder meeting in April . Along with continued investments in associates and customers , the accelerated reinvestments in hundreds of retail store improvement projects and supply chain network capabilities will further enable the Company's long - term positive momentum .