Business Services Industry
Lancaster New Era, Pa., Business Briefs Column.
Knight Ridder/Tribune Business News, January, 2004
Lancaster New Era, Pa. Knight Ridder/Tribune Business News
Jan. 29--WEIS MARKETS SEES DROP IN PROFITS: Weis Markets Inc. on Wednesday posted lower net profits in the fourth quarter and year ended Dec. 27.
For the quarter, net profits slid 11.4 percent to $14.1 million from $16.0 million in the 2002 quarter. Sales rose 2.7 percent to $520.7 million from $507.2 million.
For the year, net profits dipped 7.7 percent to $54.6 million from $59.1 million in 2002. Sales grew 2.2 percent to $2.04 billion from $2 billion.
Sunbury-based Weis said its bottom line was hurt by an unanticipated increase in employee and business insurance costs, due to several large cases. Weis is self-insured.
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