Regional grocery Weiss markets are allocating $ 135 million in capital spending by 2021, boosted by more than 16% net and comparable sales growth in fiscal 2020.
At last year’s Pa-based company’s annual shareholder meeting, Jonathan Weiss, chairman, chairman and CEO, said this year’s investments range from new stores and gas stations to remodeling, IT upgrades and more than 1,000 small shop development projects.
Plans call for the renovation of eight stores and the addition of eight new gas stations by 2021. Weiss Markets has reported that some projects may not be completed until 2022.
“Already this year, we opened a redesigned store in Martinsburg, WV, and Cape Town, which was closed for 18 months due to the fire,” Weiss said in a statement. “We are currently finishing work on two stores in the Lehi Valley, which will open later this spring, and have begun work on a new store in our second store in Bucks County, Warminster, Pa.”
The 46,500-square-foot store, which reopened on April 22, has a large manufacturing facility, a new food solutions center, a renovated exterior, new interiors, a large pharmacy with an expanded variety of natural and organic units, and a consulting room. , And ordering Weiss 2Co online with curbside pickup and delivery. All update paths are self-renewal or dual use. The 45,000-square-foot store was previously closed after a fire in November 2019.
Weiss Markets opened its Martinsburg store on February 4th. At 66,000 square feet, the new supermarket has a wide range of manufacturing facilities, including a wide variety of organic products; A beer and wine industry; A full-service seafood department with lobster tank; Full-service meat department featuring Angus beef certified as a custom cut on campus; Daily store-made sushi; A tele department with a food center; And an organic and natural food store — within a store. The store has 13 self-scan checkout routes (including one on Tele), a full-service pharmacy, gas station and Weiss2co online delivery and curbside pickup.
During the meeting, Weiss and CEO Kurt Sherdill gave shareholders an overview of the 2020 fiscal results. For the year ended December 26, Weiss Markets net sales rose 16.1% to $ 4.1 billion, with store sales up 16.4% and e-commerce sales up 155%. Net income rose nearly 75% to $ 118.9 million, or $ 4.42 per share, from $ 68 million or 89 1.89 per share in FY19.
Weiss also discussed the impact of the COVID-19 epidemic and praised the company’s pharmaceutical team, which has vaccinated more than 145,000 people in Pennsylvania, New York, West Virginia and New Jersey since late January.
“We are amazed by the efforts of those who work in the retail business, especially our Weiss partners who have taken care of our customers during challenging times,” Weiss told shareholders. “They were one of last year’s undefeated heroes.”
Currently, Weiss Markets operates 198 supermarkets in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia.
This month, Weiss Markets plans to permanently close its Andhra Plaza store in Cole Township. Most of the associates in the store, Shamokin, Pa. Since its upgrade the business continues to shift to the Walnut Street store, with its first phase expanding to include tele, pharmacy and frozen sectors; New decorative; A large assortment throughout the store; And improved exterior. As the second phase, nearing completion this year, the retailer plans to add a six-pump fuel center to a nearby site.