Weis Markets announced it would invest $101 million in its growth program in 2014. At the company’s annual shareholder meeting, Jonathan Weis, president and chief executive officer, briefed shareholders on the company’s plans and its results.
“Since 2008, we have invested more than $500 million in our growth and improvement programs," he said. "During this period, we completed more than a hundred projects. This year, we plan to invest $101 million in growth and expect to complete work on 16 projects in 2014.”
Weis said the company opened four stores in 2013, with units in Woodlawn and Towson, MD, Hillsborough NJ, and Huntingdon Valley, PA.
Weis also spoke of several key company initiatives, including its supply chain. “As a company that self-distributes, our supply chain is a vitally important area for us. Over the last year, we have increased our focus on maximizing efficiency by driving millions of dollars of cost out of the system while maintaining our high standards for store service. This has helped us reduce store level inventories and improve freshness.”
Weis also said the company is planning to expand its 1.1 million-square-foot distribution center in Milton, PA, in 2014.