Weis Markets Inc. reported its financial results for the 13-week fourth quarter and 52-week fiscal year ended Dec. 25, 2021.

“We are proud and grateful for the contributions of our resilient team of associates who adapted to the challenges of supply chain disruptions, a tight labor market, and inflationary pressures,” said Weis Markets’ Chairman, President and CEO Jonathan H. Weis. “Our associates effectively served our customers and delivered strong financial results for the fourth quarter and fiscal year 2021 that significantly exceeded pre-pandemic levels and our original expectations.”

“As a retailer that benefitted from our customers’ increased food-at-home consumption because of the COVID-19 pandemic, we note that the last two fiscal years of net sales and income from operations were the first or second highest in our company’s 110-year history. The working capital from this positive momentum positions us well for the future to execute our long-term strategy to prudently reinvest for profitable growth,” said Weis.

Fourth quarter

Net sales totaled $1.1 billion for the 13-week fourth quarter ended December 25, 2021, compared to $1.0 billion for the same period in 2020, up 8.0 percent. Fourth quarter comparable store sales increased 6.9 percent on an individual year-over-year basis (accelerating sequentially from the third quarter increase of 4.6 percent) and increased 21.0 percent on a two-year stacked basis (accelerating sequentially from the third quarter increase of 19.4 percent).

The company’s fourth quarter net income totaled $22.6 million compared to $19.4 million in 2020, up 16.4 percent. Fourth quarter earnings per share totaled $0.84 compared to $0.73 per share for the same period in 2020.

Fiscal Year 2021 Results

Net sales totaled $4.2 billion (highest in company history), increasing 2.7 percent for the 52-week fiscal year ended December 25, 2021, compared to $4.1 billion (second highest in company history) for the same period in 2020. Fiscal year 2021 comparable store sales increased 1.7 percent on an individual year-over-year basis and increased 18.1 percent on a two-year stacked basis.

The company’s fiscal year 2021 net income totaled $108.8 million (second highest in company history) compared to $118.9 million (highest in company history) for the same period in 2020, down 8.5 percent. Fiscal year 2021 earnings per share totaled $4.05 compared to $4.42 per share for the same period in 2020.

In fiscal year 2021, the company increased its capital expenditure program, reinvesting more than $150 million in its growth by opening four new/relocated stores and eight fuel centers, completing 13 remodels, and executing more than a thousand retail store improvement projects which increased store-level efficiencies and enhanced customer experience.