Weis Markets announced it would invest $135 million in its 2013 capital expenditure program, an 8% increase compared to the year prior. Company president and CEO David J. Hepfinger and vice chairman Jonathan H. Weis briefed shareholders on the plans and the company’s results at its annual shareholder meeting, held at Weis Markets’ Store Support Center in Sunbury, PA.
“To position our company for continued growth, we have made record investments in our store base,” says Weis. “Look for more of the same in 2013 when we increase our Cap Ex investment to $135 million – an 8% increase compared to 2012 – and a 33% increase compared to 2011.”
In 2013, the company is planning 37 major projects including four new stores, 15 major remodels and 17 remodels.
“By the end of 2013, we will have invested nearly half a billion dollars in our growth and will have completed more than 100 projects. Our Cap Ex program also includes record level investments in our information technology infrastructure,” added Hepfinger. “Improving our decision support and measurement capabilities are essential to our growth and future profitability.”
According to Mr. Hepfinger, supply chain and improving service are also key areas of focus. “Our organization has worked diligently to improve efficiencies throughout our supply chain — from distribution to the customer’s cart. We are also holding ourselves accountable to our customers in all that we do, which has resulted in better in-stock conditions, improved freshness and product rotation and better customer service.”