Weis Markets(US:WMK)2024-08-06 21:04Financial Performance - Second quarter net sales totaled $1.18 billion, a slight increase of 0.2% compared to the same period in 2023[2] - Comparable store sales for the second quarter increased 1.7% when adjusted for the Easter holiday shift, and 0.5% on a year-over-year basis[10] - Year-to-date net sales reached $2.36 billion, up 1.6% from $2.32 billion in the same period of 2023[3] - Second quarter net income decreased by 23.4% to $26.26 million, down from $34.27 million in 2023[2] - Year-to-date net income totaled $49.42 million, a decline of 17.7% compared to $60.08 million in 2023[3] - Second quarter earnings per share were $0.98, down from $1.27 per share in 2023[2] - Year-to-date earnings per share decreased to $1.84 from $2.23 in the same period of 2023[3] Pricing and Promotions - The company increased price investments by lowering prices on 600 high-demand dairy items as part of its Low, Low, Price program[1] - The Weis Rewards loyalty marketing program has been enhanced to offer more fuel and retail product savings[1] Operational Focus - The company continues to focus on operational efficiencies and cost management discipline amid a challenging market environment[1]