This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Weis Markets Announces $102.8 Million Cap Ex Budget For 2010

SUNBURY, Pa., April 29 /PRNewswire-FirstCall/ -- Weis Markets, Inc. (NYSE: WMK) Vice Chairman Jonathan H. Weis today said his company increased its 2010 Capital Expenditure budget to $102.8 million, a 27% increase compared to 2009.

Mr. Weis said the majority of this budget would be invested in the company's store base.  The company plans 27 projects in 2010 including two to three new stores, two expansions, 17 major remodels and six remodels.

Mr. Weis made the announcement at the company's annual meeting of shareholders where he and Company President and CEO David J. Hepfinger reviewed the company's results and updated shareholders on its plans for the coming year.

"For our company and our organization, 2009 was a year of growth and considerable progress," said Mr. Weis.  "At a time of deep recession and the highest sustained unemployment rate in our country since the Great Depression, we had a strong year."

Mr. Hepfinger said the company's operating income increased 43% in 2009 compared to the previous year.  He noted the company has achieved six consecutive quarters of strong solid operating results through the first quarter of 2010.

Mr. Hepfinger also said the company's cap ex budget includes an increased investment in its Information Technology infrastructure.

"We have significantly increased our IT investments over the past two years," said Mr. Hepfinger.  "Our success as a company will depend on our ability to develop and incorporate rigorous analytics that give us better insight into our business and helps us increase our sales and profits."

About Weis Markets

Founded in 1912, Weis Markets will mark its 98 th year of operation in May.  It currently operates 164 stores in its home state of Pennsylvania and in Maryland, New York, New Jersey and West Virginia.  For more information about Weis Markets, Inc., please visit  

SOURCE Weis Markets Inc.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
WMK $45.52 -1.24%
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs