This Regional Grocery Chain Is Spending $150 Million on Expansion
Amid rising inflation prices, more Americans are finding themselves opting to save money by cooking at home rather than dining out. Big-name grocery stores have been expanding as customers are stocking up and staying home. Mid-Atlantic food retailer, Weis Markets, isn't looking to get left behind, however. In fact, the company just announced that it plans on investing millions in growth this year.
"In 2022, we plan to invest more than $150 million in our capital expenditure program," said chairman, president, and chief executive officer Jonathan H. Weis at an annual shareholder meeting. "This budget includes four new stores, some of which will be completed in the coming years, one expansion, five major remodels, and eight fuel centers."
Just last year, Weis opened a replacement store in Gap, Pa. after a fire closed the store in 2019. "The store is extensively damaged and is expected to be closed indefinitely," Weis Markets said in a press release at the time. "We are currently working with the Fire Marshall to determine the cause of the fire."
Two others also opened in Bethlehem, and Macungie, Pa., replacing two other smaller locations, according to Progressive Grocer. Both are over 60,000-square-feet and considerably larger than the original stores. The year also saw a new store open in Martinsburg, W. Va. and the company completed 13 major remodels and opened nine fuel centers, along with many small retail store projects for improving customer experience and streamlining service.
Currently, Weis Market has 197 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia, and Virginia. The company ranked 43 on last year's Top 50 food and grocery retailers and wholesalers in North America and has been steadily growing. According to Weis, the supermarket was able to gain $4.2 billion in net sales last year, a 1.7% increase over the year before.
The grocery retailer was founded in Sunbury, Pennsylvania in 1912 and is still family-run. The Weis Market is known for its combination of "value, quality, and service" and the signature products the brand makes, particularly the Weis Quality Ice Cream, which has over 60 flavors.
Before you head out the door to go shopping, check out: These Grocery Items Sold at Walmart, Wegmans, H-E-B, and Amazon Are Being Pulled From Shelves.
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