Higher costs, lower consumer spending hurt Weis 1Q results

SUNBURY, Pa.—Weis Markets Inc., a Pennsylvania-based supermarket chain, said Friday first-quarter profit fell 32 percent, hurt by a slowdown in consumer spending and higher commodity and other costs.

Profit for the quarter fell to $9.1 million, or 34 cents per share, from $13.4 million, or 50 cents per share last year.

Revenue rose 4 percent to $595.7 million from $571.8 million last year.

Same-store sales, or sales in stores open at least one year, rose 3.9 percent.

Wholesale food inflation, higher commodity prices and a cutback in consumer spending all hurt results, the company said. The company also faced higher fuel costs and health insurance costs during the quarter.

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