UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 6, 2013
WEIS MARKETS,
INC.
(Exact Name of Registrant as Specified in
Charter)
Pennsylvania
(State or Other Jurisdiction
of Incorporation)
1-5039 (Commission File Number) |
24-0755415 (IRS Employer Identification No.) |
|
1000 South Second Street Sunbury, PA (Address of Principal Executive Offices) |
17801 (Zip Code) |
Registrant's telephone number, including area code: (570) 286-4571
N/A
(Former Name or Former Address, if Changed Since Last
Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications
pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12(b)
under the Exchange Act (17 CFR 240.14a-12(b))
[ ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition.
On May 6, 2013, the Company released its earnings for the first quarter ended March 30, 2013. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by this reference.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibit.
99.1 Weis Markets, Inc. May 6, 2013 news release announcing the first quarter 2013 earnings.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WEIS MARKETS, INC. | |||
By: /s/Scott F. Frost | |||
Name: Scott F. Frost | |||
Title: Senior Vice President, Chief Financial Officer | |||
and Treasurer | |||
(Principal Financial Officer) | |||
Dated: May 6, 2013 |
Exhibit No. | Description |
99.1 | Weis Markets, Inc. May 6, 2013 news release announcing the first quarter 2013 earnings. |
Exhibit 99.1
News Release
Contact: | FOR IMMEDIATE RELEASE |
Dennis Curtin | |
Weis Markets, Inc. | |
570-847-3636 | |
dcurtin@weismarkets.com | |
Twitter: @wmkspokesman |
WEIS MARKETS ISSUES 1ST QUARTER
RESULTS
Sunbury, PA (May 6, 2013) - Weis Markets, Inc. (NYSE:WMK) today reported its first quarter sales increased 3.2% to $682.7 million compared to the same period in 2012 while its comparable store sales increased 0.8%.
For the thirteen week period ending March 30, 2013, the Company's net income increased 0.5% to $20.1 million compared to the same period in 2012 while its diluted earnings per share increased to $.75 per share compared to $.74 per share for the same period a year ago.
"We continue to make forward progress in a market impacted by a poor economy that is generating minimal job growth. These have been ongoing trends in most of the markets we serve," said David J. Hepfinger, Weis Markets' President and CEO. "Our customers were also impacted in the first quarter by a tax increase and post-holiday debt. This soft sales environment spurred increased competitive activity in most of our key markets. We were able to offset these trends through disciplined marketing and promotional programs and improved productivity and operational efficiencies at store and distributional levels."
About Weis Markets
Founded in 1912, Weis Markets,
Inc. is a Mid Atlantic food retailer operating 164 stores
in Pennsylvania, Maryland, New Jersey, New York and West
Virginia. For more information, please visit:
WeisMarkets.com or
Facebook.com/WeisMarkets.
# # #
In addition to historical information, this news release may contain forward-looking statements, which are included pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. For example, risks and uncertainties can arise with changes in: general economic conditions, including their impact on capital expenditures; business conditions in the retail industry; the regulatory environment; rapidly changing technology and competitive factors, including increased competition with regional and national retailers; and price pressures. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risk factors described in other documents the Company files periodically with the Securities and Exchange Commission.
WEIS MARKETS, INC.
COMPARATIVE SUMMARY OF SALES & EARNINGS
First Quarter - 2013
13 Week | 13 Week | ||||||
Period Ended | Period Ended | ||||||
March 30, 2013 | March 31, 2012 | Increase) | |||||
(Unaudited) | (Unaudited) | (Decrease) | |||||
Net Sales | $ | 682,712,000 | $ | 661,610,000 | 3.2 | % | |
Income Before Taxes | 31,893,000 | 31,487,000 | 1.3 | % | |||
Provision for Income Taxes | 11,764,000 | 11,461,000 | 2.6 | % | |||
Net Income | $ | 20,129,000 | $ | 20,026,000 | 0.5 | % | |
Weighted-Average | |||||||
Shares Outstanding | 26,898,000 | 26,898,000 | --- | ||||
Basic and Diluted | |||||||
Earnings Per Share | $ | 0.75 | $ | 0.74 | $ | 0.01 | |