Weis Markets, Inc. (WMK) has reported a 41.20 percent plunge in profit for the quarter ended Apr. 01, 2017. The company has earned $11.84 million, or $0.44 a share in the quarter, compared with $20.13 million, or $0.75 a share for the same period last year.
Revenue during the quarter grew 15.45 percent to $852.23 million from $738.20 million in the previous year period.
"Our net income was impacted by the Easter and New Year holiday shift compared to 2016, a mild winter and overall price deflation," said Weis Markets' president and chief executive officer Jonathan Weis. "We also continued to make significant investments in our pricing and promotional programs throughout our seven state market area."
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