EXHIBIT 99.1
| WEIS MARKETS, INC. | 1000 S. 2nd Street |
| Sunbury, Pennsylvania 17801 | |
| Phone 570-286-3636 | |
| Fax 570-286-3692 |
| Press Release |
| Contact: Dennis V. Curtin | FOR IMMEDIATE RELEASE |
| Phone: (570) 847-3636 | April 16, 2009 |
| E-Mail: Dcurtin@weismarkets.com |
(Sunbury, PA) - Weis Markets, Inc. (NYSE: WMK) today said its first quarter net income increased 82.4% to $16.5 million compared to the same period a year ago and that its basic and diluted earnings per share increased $.27 to $.61 per share.
For the thirteen-week period ending March 28, 2009, the Company's sales increased 1.8% to $606.2 million and its comparable store sales increased 1.6%. The Company's sales were impacted by the late Easter holiday sales period, which occurred in the first quarter of 2008.
"Our results reflect the continued improvement in our operating performance. We have done a better job at balancing the needs of our business and managing our expenses. These improvements are clearly apparent in our income from core operations, which increased 154.2% in the first quarter," said David J. Hepfinger, Weis Markets' President and CEO. "It is also important to note that we operate in a difficult sales environment. Our core markets are clearly affected by higher unemployment rates and a record low consumer confidence index, which has resulted in cautious overall spending by our customers."
Founded in 1912, Weis Markets, Inc. is a Mid-Atlantic food retailer operating 154 stores in five states: Pennsylvania, Maryland, New Jersey, New York and West Virginia.
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In addition to historical information, this news release may contain forward-looking statements. Any forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. For example, risks and uncertainties can arise with changes in: general economic conditions, including their impact on capital expenditures; business conditions in the retail industry; the regulatory environment; rapidly changing technology and competitive factors, including increased competition with regional and national retailers; and price pressures.
The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof other than through its periodic filings with the Securities and Exchange Commission that are available to the public.
| Weis Markets, Inc. |
| Comparative Summary of Unaudited Sales & Earnings |
| First Quarter - 2009 |
| 13 Week | 13 Week | ||
| Period Ended | Period Ended | Increase | |
| March 28, 2009 | March 29, 2008 | (Decrease) | |
| Net Sales | $606,239,000 | $595,666,000 | 1.8% |
| Income Before Taxes | 25,546,000 | 12,966,000 | 97.0% |
| Provision for Income Taxes | 9,028,000 | 3,910,000 | 130.9% |
| Net Income | $16,518,000 | $9,056,000 | 82.4% |
| Weighted-Average | |||
| Shares Outstanding | 26,959,000 | 26,968,000 | (9,000) |
| Basic and Diluted | |||
| Earnings Per Share | $0.61 | $0.34 | $0.27 |