0000105418-17-000015.txt : 20170510 0000105418-17-000015.hdr.sgml : 20170510 20170510170505 ACCESSION NUMBER: 0000105418-17-000015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20170510 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170510 DATE AS OF CHANGE: 20170510 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: 17831402 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 wmk8k05102017.htm WEIS MARKETS, INC. FIRST QUARTER 2017 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 10, 2017

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]




Item 2.02 Results of Operations and Financial Condition.

     On May 10, 2017, the Company released its earnings for the first quarter ended April 1, 2017. 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 10, 2017 news release announcing the first quarter 2017 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 10, 2017         



EXHIBIT INDEX

   
Exhibit No. Description
99.1 Weis Markets, Inc. May 10, 2017 news release announcing the first quarter 2017 earnings.
   
EX-99 2 wmk8k05102017exhibit991.htm WEIS MARKETS, INC. FIRST QUARTER 2017 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 1st QUARTER RESULTS
Comparable Store Sales Increase for the 12th Consecutive Quarter

Sunbury, PA (May 10, 2017) - Weis Markets, Inc. (NYSE:WMK) today reported its sales increased 15.4 percent to $852.2 million in the first quarter compared to $738.2 million for the same period in 2016 while first quarter comparable store sales, adjusting for the New Year's and Easter holiday shift in 2017, increased 1.1 percent, which represents the Company's 12th consecutive quarter of increased comparable store sales.

During the 13-week period ended April 1, 2017, the Company's net income declined 41.2 percent to $11.8 million while earnings per share totaled $0.44 compared to $0.75 in 2016.

"Our net income was impacted by the Easter and New Year holiday shift compared to 2016, a mild winter and overall price deflation," said Weis Markets' Chairman and Chief Executive Officer Jonathan Weis. "We also continued to make significant investments in our pricing and promotional programs throughout our seven state market area."

# # #

About Weis Markets
Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 204 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, Virginia 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 - 2017
(Unaudited)


    13 Week   13 Week      
    Period Ended   Period Ended   Increase  
    April 1, 2017   March 26, 2016   (Decrease)  
Net Sales $         852,229,000 $         738,204,000                15.4 %
Income Before Income Taxes   21,074,000   31,907,000   (34.0) %
Provision for Income Taxes                9,238,000              11,778,000             (21.6) %
Net Income $            11,836,000 $            20,129,000             (41.2) %
Weighted-Average              
     Shares Outstanding   26,898,000   26,898,000   ---  
Basic and Diluted              
     Earnings Per Share $ 0.44 $ 0.75 $ (0.31)  
               
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