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WEIS MARKETS INC [WMK] reports annual net loss of $103.8 million
By USInMinutes - Feb 29, 2024, 05:42 AM ET
Last Updated - Feb 29, 2024, 05:42 AM EST
![WEIS MARKETS INC [WMK] reports annual net loss of $103.8 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FWMK.png&w=3840&q=75)
Company Reports Revenue of $4.7 billion
WEIS MARKETS INC [WMK] has reported a net loss of $103.8 million for year ended Dec 30, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $4.7 billion
Based in SUNBURY, Pennsylvania, WEIS MARKETS INC operates in the RETAIL sector.
In the fiscal year ended December 30, 2023, the company reported net sales of $4,696.95 million, showing a slight increase compared to the previous year's $4,695.94 million and a more significant growth from $4,224.42 million in 2021.
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Cost of sales, including advertising, warehousing, and distribution expenses, amounted to $3,535.01 million for the reported period, up from $3,514.03 million in the prior year and $3,108.71 million in 2021.
The gross profit on sales for the current fiscal year was $1,161.94 million, slightly lower than the previous year's $1,181.91 million but higher than the $1,115.71 million recorded in 2021.
Operating, general, and administrative expenses remained relatively stable at $1,024.75 million for the current year, compared to $1,024.86 million in the previous year and $968.99 million in 2021.
Income from operations stood at $137.19 million for the fiscal year ended December 30, 2023, showing a decrease from $157.05 million in the prior year and an increase from $146.71 million in 2021.
The company reported a net income of $103.83 million for the current period, down from $125.20 million in the previous year but higher than the $108.85 million recorded in 2021.
The basic earnings per share for the current fiscal year were $3.86, a decrease from $4.65 in the previous year but an increase from $4.05 in 2021. Similarly, the diluted earnings per share were $3.86 for the current period, compared to $4.65 in the prior year and $4.05 in 2021.
Overall, the company's financial performance in the most recent fiscal year showed mixed results compared to the previous periods, with fluctuations in net sales, gross profit, and net income.
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