UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act
of 1934
July 14,
2005
Date of Report (Date of earliest event reported)
______________________________________________________
WEIS MARKETS,
INC.
(Exact name of registrant as specified in its
charter)
______________________________________________________
Pennsylvania
1-5039
24-0755415
(State or other
jurisdiction (Commission (IRS
Employer
of
incorporation) File
Number) Identification
No.)
1000 South
Second Street, Sunbury, PA 17801
(Address of principal executive offices) (Zip
Code)
(570)
286-4571
Registrant's telephone number, including area
code
N/A
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications
pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition.
On July 14, 2005, the Company
released its earnings for the second quarter 2005 ended June
25, 2005. A copy of the
press release is attached hereto as Exhibit 99.1 and is
incorporated herein by this reference.
Item 9.01 Financial Statements and Exhibits.
(c)
Exhibit.
99.1
Weis Markets, Inc. July 14, 2005 press release announcing its
second quarter 2005 earnings.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WEIS MARKETS, INC.
Dated: July 18, 2005
By: /s/
William R.
Mills
William R.
Mills
Senior Vice President and
Treasurer/CFO
EXHIBIT INDEX
Exhibit No. Description
99.1 Weis Markets, Inc. July 14, 2005 press release announcing its second quarter 2005 earnings.
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 Curtin | FOR IMMEDIATE RELEASE |
| Phone: (570) 286-3636 | July 14, 2005 |
| E-Mail: dcurtin@weismarkets.com |
|
|
(SUNBURY, PA) – Weis Markets,
Inc. (NYSE:WMK) today reported its second quarter sales
for the thirteen-week period ending June 25, 2005,
increased 2.8% to $535.7 million while its net income
increased 7.2% as compared to the same period a year ago.
The Company's second quarter diluted earnings per share
increased 8.0% to $.54 per share and comparable store
sales for the period increased 2.5%.
Year-to-date, the Company's sales
increased 4.2% to $1.1 billion while net income increased
5.1% to $31.4 million. Year-to-date diluted earnings per
share increased 5.5% to $1.16 per share and the Company's
comparable store sales over the 26-week period ending
June 25, 2005, increased 4.2%.
The Company continues to see
improvements in a number of areas. Its promotional
programs have been sustained and cost effective. In
addition, the Company's supply chain and store level
execution have been consistent. Despite competitive
activity in virtually all of its markets, the Company's
sales continue to increase in perishable departments and
key center store categories.
The Company said it continues to see
significant increases for the cost of fuel and associate
healthcare benefits. It also continues to see exorbitant
increases in its credit and debit interchange fees. Over
the past ten years, the Company's interchange fees have
increased 582.0% due to substantial rate increases and
higher customer usage.
In the second quarter, at the
Company's annual meeting of shareholders, Weis Markets'
Chairman Robert F. Weis announced the Company's plans to
invest $109.4 million in its capital expansion
program.
Weis Markets, Inc. is a Mid-Atlantic supermarket company operating 157 stores in six states: Pennsylvania, Maryland, New Jersey, New York, Virginia and West Virginia. The Company also owns and operates SuperPetz, a pet supply superstore chain with 32 locations in eleven states.
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.
and Subsidiaries |
| Comparative Summary of Unaudited Sales & Earnings |
| Second Quarter - 2005 |
| 13 Week | 13 Week | ||
| Period Ended | Period Ended | Increase | |
| June 25, 2005 | June 26, 2004 | (Decrease) | |
| Net Sales | $535,734,000 | $521,374,000 | 2.8% |
| Income Before Taxes | 23,142,000 | 21,641,000 | 6.9% |
| Provision for Income Taxes | 8,517,000 | 7,997,000 | 6.5% |
| Net Income | $14,625,000 | $13,644,000 | 7.2% |
| Weighted-Average | |||
| Shares Outstanding | 27,038,000 | 27,121,000 | (83,000) |
| Basic and Diluted | |||
| Earnings Per Share | $0.54 | $0.50 | $0.04 |
| 26 Week | 26 Week | ||
| Period Ended | Period Ended | Increase | |
| June 25, 2005 | June 26, 2004 | (Decrease) | |
| Net Sales | $1,085,446,000 | $1,042,043,000 | 4.2% |
| Income Before Taxes | 50,022,000 | 47,678,000 | 4.9% |
| Provision for Income Taxes | 18,632,000 | 17,799,000 | 4.7% |
| Net Income | $31,390,000 | $29,879,000 | 5.1% |
| Weighted-Average | |||
| Shares Outstanding | 27,038,000 | 27,130,000 | (92,000) |
| Basic and Diluted | |||
| Earnings Per Share | $1.16 | $1.10 | $0.06 |