Group 1 - Weis Markets, Inc. declared a quarterly dividend of $0.34 per share for shareholders of record as of July 29, 2024, payable on August 12, 2024 [1] - The company operates 196 stores across multiple states including Pennsylvania, Maryland, Delaware, New Jersey, New York, Virginia, and West Virginia [2] - Weis Markets, Inc. was founded in 1912 and is a prominent food retailer in the Mid-Atlantic region [2]

Company Operations - Weis Markets operates 197 retail food stores across several states, with a total square footage of 9,710,000 square feet as of year-end 2023[10][14]. - Weis Markets self-distributes approximately 56% of products supplied to stores, with three manufacturing facilities processing milk, ice cream, and fresh meat products[14]. - The Company operates 101 retail food stores and leases 96 stores, with leases expiring through 2036[56]. - The Company owns a distribution center in Milton, Pennsylvania, approximately 1.3 million square feet, and another in Northumberland, Pennsylvania, totaling approximately 76 thousand square feet[57]. - The Company employs approximately 23,000 associates, with 95% receiving hourly wages[20]. - The Company has experienced significant labor and supply chain disruptions in 2022 and 2023, affecting store development and construction projects, which are now expected to be completed in 2024 and 2025[13]. Financial Performance - Weis Markets, Inc. reported net sales of $4,696,950, remaining flat compared to $4,695,943 in 2022, with a year-over-year percentage change of 0.0%[86]. - The company's gross profit margin decreased to 24.7% in 2023 from 25.2% in 2022, while gross profit on sales was $1,161,941, down 1.7% from the previous year[86]. - Net income for 2023 was $103,828, a decrease of 17.1% from $125,196 in 2022, with net income as a percentage of net sales at 2.2%[86]. - The company’s operating margin fell to 2.9% in 2023 from 3.3% in 2022, with income from operations at $137,186, down 12.6% year-over-year[86]. - Investment income increased significantly to $13,162 in 2023 from a loss of $82 in 2022, marking a 16151.2% change[86]. - Operating cash flows decreased to $201.6 million in 2023 from $218.0 million in 2022, primarily due to lower net income[110]. - Capital expenditures totaled $104.0 million in 2023, representing 2.2% of net sales, down from 2.5% in 2022[112]. - The company paid total cash dividends of $36.6 million in 2023, an increase from $35.0 million in 2022[113]. Market and Competitive Environment - The retail food industry remains highly competitive, with the Company facing challenges from various competitors, including online food retail[27]. - The Company aims to enhance its market share through disciplined growth, focusing on sales-driven culture and human capital development[78]. Sustainability and Corporate Responsibility - The Company has diverted approximately 43,000 tons of waste from landfills as part of its sustainability strategy, which aims to reduce its overall carbon footprint[17]. Tax and Legal Considerations - The Company is subject to various federal, state, and local laws that may require additional capital expenditures and could adversely affect its business operations[40]. - The Company's future effective tax rate may increase due to changes in laws and pending items with various taxing authorities[41]. - The effective income tax rate rose to 29.2% in 2023 from 22.1% in 2022, reflecting a 20.5% increase in the provision for income taxes[86]. Cybersecurity - The Company has not experienced any material cybersecurity incidents affecting its business strategy or financial condition during the period presented[48]. - The Company engages with third-party experts to evaluate and test its cybersecurity risk management systems[54]. Inventory and Assets - The company reported total current assets of $832,214 as of December 30, 2023, an increase from $741,170 in 2022[135]. - Total assets increased to $2,039,632 in 2023 from $1,959,150 in 2022, indicating a growth of approximately 4.1%[135]. - The company’s inventories were valued at $296,157 as of December 30, 2023, slightly up from $293,274 in 2022[135]. Employee and Labor Costs - Employee-related costs comprised approximately 59.9% of total operating expenses, with direct store labor increasing slightly in 2023[98]. - Total retirement plan costs for 2023 amount to $7,578,000, an increase of 13.47% from $6,679,000 in 2022[206]. Shareholder Information - The Weis family's share ownership represents approximately 65% of the combined voting power of the Company's common stock as of December 30, 2023[42]. - The company has a remaining balance of 752,468 shares for stock repurchase under the Board of Directors' resolution[107]. - Total shareholders' equity increased to $1.374 billion as of December 30, 2023, up from $1.302 billion at the end of 2022, reflecting a growth of 5.5%[142].

Financial Performance - For fiscal year 2023, net sales totaled $4.70 billion, a slight increase of 0.02% compared to $4.70 billion in fiscal year 2022[5] - Fiscal year 2023 net income was $103.83 million, down 17.1% from $125.20 million in 2022, with earnings per share decreasing from $4.65 to $3.86[6] - In the fourth quarter of 2023, net sales were $1.21 billion, a decrease of 7.1% compared to $1.31 billion in the fourth quarter of 2022[7] - Fourth quarter net income fell to $20.52 million, down 28.9% from $28.88 million in the same quarter of 2022, with earnings per share dropping from $1.07 to $0.76[8] Comparable Store Sales - Comparable store sales for fiscal year 2023 increased by 2.3% year-over-year, and by 9.8% on a two-year stacked basis[5][15] - Comparable store sales for the fourth quarter of 2023 increased by 0.2% year-over-year, with a 9.8% increase on a two-year stacked basis[7][15] Dividends and Investments - The company declared a quarterly cash dividend of $0.34 per share, payable on March 4, 2024[4] - Significant price investments were made in 2023 to compete effectively amid inflationary pressures[3] Operational Efficiency - The company managed business processes and expenses carefully while investing in technologies to improve efficiencies[3] - The board of directors emphasized the importance of associates' service to customers and the company during challenging economic conditions[3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to_________ Commission File Number 1-5039 WEIS MARKETS, INC. (Exact name of registrant as specified in its charter) Pennsylvania 24-0755415 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to_________ Commission File Number 1-5039 WEIS MARKETS, INC. (Exact name of registrant as specified in its charter) Pennsylvania (S ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 25, 2021 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to_________ Commission File Number 1-5039 WEIS MARKETS, INC. (Exact name of registrant as specified in its charter) Pennsylvania (S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 26, 2020 OR Pennsylvania (State or other jurisdiction of incorporation or organization) 1000 S. Second Street P. O. Box 471 Sunbury, Pennsylvania (Address of principal executive offices) For the transition period from __________to_________ Commission File Number 1-5039 24-0755415 (I.R.S. Employ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2019 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to_________ Commission File Number 1-5039 WEIS MARKETS, INC. (Exact name of registrant as specified in its charter) PENNSYLVANIA (State or other juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2018 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 WEIS MARKETS, INC. (Exact name of registrant as specified in its charter) PENNSYLVANIA (State or other jurisdiction of incorporation or organization) 1000 S. Second Street P. O. Box 471 Sunb ...