0000105418-16-000073.txt : 20160502 0000105418-16-000073.hdr.sgml : 20160502 20160502121153 ACCESSION NUMBER: 0000105418-16-000073 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160502 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160502 DATE AS OF CHANGE: 20160502 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEIS MARKETS INC CENTRAL INDEX KEY: 0000105418 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 240755415 STATE OF INCORPORATION: PA FISCAL YEAR END: 1226 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05039 FILM NUMBER: 161610657 BUSINESS ADDRESS: STREET 1: 1000 S SECOND ST STREET 2: PO BOX 471 CITY: SUNBURY STATE: PA ZIP: 17801 BUSINESS PHONE: 570-286-4571 MAIL ADDRESS: STREET 1: 1000 S SECOND ST STREET 2: PO BOX 471 CITY: SUNBURY STATE: PA ZIP: 17801 8-K 1 wmk8k05022016.htm WEIS MARKETS, INC. FIRST QUARTER 2016 FINANCIAL NEWS 8-K Weis Markets, Inc. First Quarter Financial News 8K

 


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 2, 2016

WEIS MARKETS, INC.
(Exact name of registrant as specified in its 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:

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]  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 2, 2016, the Company released its earnings for the first quarter ended March 26, 2016. 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 2, 2016 news release announcing the first quarter 2016 earnings.




SIGNATURES

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 2, 2016         



EXHIBIT INDEX

   
Exhibit No. Description
99.1 Weis Markets, Inc. May 2, 2016 news release announcing the first quarter 2016 earnings.
   
EX-99 2 wmk8k05022016exhibit991.htm WEIS MARKETS, INC. FIRST QUARTER 2016 FINANCIAL NEWS RELEASE Weis Markets, Inc. First Quarter Financial News Release

 


Exhibit 99.1

   

News Release

Contact: FOR IMMEDIATE RELEASE
Dennis Curtin  
Weis Markets, Inc.  
570-847-3636  
dcurtin@weismarkets.com  
Twitter: @WMKSpokesman  


WEIS MARKETS REPORTS FIRST QUARTER RESULTS
Sales comparable store sales and net income are up

Sunbury, PA (May 2, 2016) - Weis Markets, Inc. (NYSE:WMK) today reported its first quarter net income increased 51.1 percent to $20.1 million while earnings per share increased 50.0 percent to $.75 per share compared to $.50 per share for the same period in 2015. During the same period, the Company's operating income increased 57.4 percent to $31.3 million.

For the thirteen week period ended March 26, 2016, the Company's sales increased 3.6 percent to $738.2 million and its comparable store sales also increased 3.6 percent. The incremental sales impact due to the Easter calendar shift was approximately $7.1 million or a 1.0 percent increase in comparable store sales.

"Our results continue to benefit from our long-term pricing investments and the refinement of our marketing programs, which spurred increased sales in center store, HBC, frozen, pharmacy and most of our fresh departments," said Jonathan H. Weis, Weis Markets Chairman and CEO. "These investments and refinements were complemented by improved supply chain and store support efficiencies and an increased focus on our store-level customer experience."

# # #

About Weis Markets
Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 162 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 - 2016
(Unaudited)


    13 Week   13 Week      
    Period Ended   Period Ended   Increase  
    March 26, 2016   March 28, 2015   (Decrease)  
Net Sales $         738,204,000 $         712,426,000               3.6 %
Income Before Income Taxes   31,907,000   20,397,000   56.4 %
Provision for Income Taxes              11,778,000                7,074,000             66.5 %
Net Income $            20,129,000 $            13,323,000             51.1 %
Weighted-Average              
     Shares Outstanding   26,898,000   26,898,000   ---  
Basic and Diluted              
     Earnings Per Share $ 0.75 $ 0.50 $ 0.25  
               
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