Retailer Weis Markets Inc. reported lower sales but higher income and earnings per share in the second quarter of 2018.
Q2 sales for Sunbury, Pennsylvania-based Weis totaled $871.1 million, up from $876.6 million for the same period in 2017. The company's second quarter net income increased 3.4 percent to $19.1 million, and second quarter earnings per share increased $0.02 to $0.71 per share.
Weis's second quarter sales were adversely affected by the Easter holiday shift, since the 2018 Easter sales week fell on the last week of the first quarter while the slow-selling post-holiday week fell in the second quarter this year, according to the company.
Sales were also negatively impacted by the timing of the fourth of July holiday, which fell later in the week following the conclusion of the second quarter. Management estimates the incremental sales impact of the holiday shifts was approximately $12.5 million.
Weis operates 206 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia.