CEO Jonathan Weis Updates Shareholders at Annual Meeting
Company Website:
http://www.WeisMarkets.com
SUNBURY, Pa. -- (Business Wire)
Weis Markets (NYSE: WMK), today announced it would invest $101 million
in its growth program in 2014.
At the Company’s annual shareholder meeting, Weis Markets President and
CEO Jonathan Weis briefed shareholders on the Company’s plans and its
results. “Since 2008, we have invested more than $500 million in our
growth and improvement programs. During this period, we completed more
than a hundred projects,” said Mr. Weis. “This year, we plan to invest
$101 million in growth and expect to complete work on 16 projects in
2014.”
Mr. Weis said the Company opened four stores in 2013, with units in
Woodlawn and Towson, Md., Hillsborough N.J. and Huntingdon Valley, Pa.
Mr. Weis also spoke of several key Company initiatives, including its
supply chain. “As a company that self-distributes, our supply chain is a
vitally important area for us. Over the last year, we have increased our
focus on maximizing efficiency by driving millions of dollars of cost
out of the system, while maintaining our high standards for store
service. This has helped us reduce store level inventories and improve
freshness.”
Mr. Weis also said the Company is planning to expand its 1.1 million
square foot distribution center in Milton, Pa in 2014.
About Weis Markets
Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer
operating 166 stores in Pennsylvania, Maryland, New Jersey, New York and
West Virginia. For more information, please visit: WeisMarkets.com
or Facebook.com/WeisMarkets.
Contacts:
Weis Markets, Inc.
Dennis Curtin, 570-847-3636
dcurtin@weismarkets.com
Source: Weis Markets, Inc.
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