Weis Markets Q1 net sales up 3.7% but net income down 17.8%; EPS $0.96 vs $1.17

Net sales totaled $1.14 billion for the 13-week first quarter ended April 1, 2023, compared to $1.10 billion for the 13-week first quarter ended March 26, 2022, up 3.7 percent. First quarter comparable store sales increased 3.1 percent on an individual year-over-year basis and increased 12.5 percent on a two-year stacked basis. ​ “ Our first quarter sales and income results are in line with our expectations in an inflationary environment,” said Weis Markets Inc.’s Chairman, President and Chief Executive Officer Jonathan H. Weis. “Higher product, supply chain, and operating costs had a significant impact on our income results compared to last year. We are grateful to our associates who helped us navigate these challenges and serve our customers. In addition, record inflation continues to be a major challenge for our customers. In response, we expanded our Low, Low Price program which offers strong, everyday savings and values on more than 9,000 products.” ​ The Company’s first quarter n