SUNBURY, Pa.— Weis Markets Inc. plans to invest $135 million in its growth during 2021.
Jonathan Weis, the retailer’s chairman, president and chief executive officer, announced the capital expenditures plan Thursday during the company’s annual shareholder meeting. He said the company continues to invest in new stores, remodels, fuel centers, information technology upgrades and more than a thousand smaller store improvement projects.
“Already this year, we’ve opened a new store in Martinsburg, West Virginia and a remodeled store in Gap, Pennsylvania, which was closed for 18 months due to a fire,” Weis said. “We are currently finishing up work on two stores in the Lehigh Valley, Pennsylvania, which will open later this spring, and have started work on a new store in Warminster, Pennsylvania, our second in Bucks County.”
The company also plans eight remodels and eight fuel centers in 2021. While all of these projects will begin in 2021, some may not be completed until 2022.
Weis also spoke about the pandemic’s impact and cited the company’s pharmacy team, which has vaccinated more than 145,000 people in Pennsylvania, New York, West Virginia and New Jersey since late January, and other employees who served customers during a difficult year.
“We are awed by the efforts of those who work in retail, most especially our Weis associates who took care of our customers during challenging times,” he said. “They are among the unsung heroes of the past year.”
Weis Markets $4.1 billion during its 2020 fiscal year, an increase of 16.1% over 2019. Comparable store sales increased 16.4%. Net income increased 74.9% to $118.9 million.