Dive Brief:
- Weis Markets plans to invest $90 million in growth in 2017, according to Chain Store Age.
- The money will be used for both adding new stores and remodeling existing locations. The budget also includes supply chain improvements and continued information tech upgrades.
- Weis Markets currently operates 204 stores. It grew significantly last year, following the acquisition of 44 stores from Ahold-Delhaize.
Dive Insight:
Last year, Weis Markets' large acquisition — which included 38 former Food Lion locations — increased its total store portfolio by more than 20%. Now it looks to expand even further.
Weis Markets chairman and CEO Jonathan H. Weis received major applause from shareholders when he announced the aggressive strategy. The 204-store Mid-Atlantic chain is positioning itself to be a major player in years to come.
Just last month, the retailer announced it was building a new, upscale store in an effort to present something different for customers and better compete with some of the niche stores coming to market. In doing so, it joins retailers like Niemann Foods and Hy-Vee that are piloting their own upscale stores. According to Mass Market Retailers, Weis plans 14 remodels this year, meaning more stores could be getting the upscale treatment, adding on to the premium shopper experience.
The retailer is showing strong numbers, with 2016 sales increasing 6.9% to $3.1 billion. The company’s same-store sales have increased 11 consecutive quarters.