Weis plans to sink $92.7 million into growth
Apr 15, 2004 12:35 PM, from staff and wire reports
Weis Markets plans to invest $92.7 million in its growth and expansion program, which includes 28 store projects.
At the company’s annual shareholder meeting, Robert F Weis, company chairman, said, "In 2004, we expect to ramp up our capital investment program to $93.2 million—a considerable increase over 2003. At store level, we hope to begin work on 28 store projects this year, including the construction of five superstores."
Company plans also call for the expansion of nine units and the remodel of 14 others. Weis said that while these projects will begin in 2004, some might not be completed until 2005.
Weis also updated shareholders on the upgrade of the company's 1.1 million-square-foot distribution center. In 2003, the company began a project to reconfigure 525,000 square feet of this facility. Weis said this upgrade would improve the facility's existing storage capacity and overall productivity.
Based in Sunbury PA, Weis Markets operates 158 stores in Pennsylvania, Maryland, New Jersey, New York, Virginia, and West Virginia.
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