Sales declines impact Weis Markets
Sunbury, Pa. – Declining sales across a variety of categories negatively affected year-over-year fiscal performance of Weis Markets Inc. during the fourth quarter and fiscal year 2013. Net income declined 29% to $15.7 million from $22.1 million during the quarter, and dropped 13% to $71.7 million from $82.5 million during the year.
In addition, net sales declined 1% to $686.4 million from $694.3 million for the quarter, and decreased slightly to $2.69 billion from $2.7 billion for the year. Same-store sales dropped 3.5% for the quarter and shrank 2.6% for the year.
Weis Markets attributed its disappointing performance to stagnant sales performance in key center store categories, lower same-store gas sales due to significant fuel price deflation, a shortened holiday selling season and a decline in food stamp/SNAP sales. In addition, the company said net income in the quarter was affected by the recognition of a $680,000 future liability associated with the lease commitment of a closed store property, and net income in the year was impacted by was impacted by a $6.1 million charge for the separation agreement of its former CEO, a $2.1 million impairment loss for four properties.
Dunkin’ Brands extends CEO contract through 2018
Canton, Mass. – Dunkin’ Brands Group Inc, the parent company of Dunkin’ Donuts and Baskin-Robbins, today announced the extension of Chairman and CEO Nigel Travis’s employment contract through December 2018. Travis, 64, whose contract previously ran through December 2016, joined Dunkin’ Brands as CEO in December 2008.
"Nigel has done an outstanding job at Dunkin’ Brands over the past five years," said Dunkin’ Brands lead director Raul Alvarez. "Since 2009, under the leadership of Nigel and his management team, Dunkin’ Brands’ nearly 100% franchised system has delivered a compounded annual growth rate of 6.2% in systemwide sales, had strong comparable store sales, added almost 3,300 net new Dunkin’ Donuts and Baskin-Robbins restaurants, and returned approximately $650 million to shareholders during its two-and-a-half years as a public company. Going forward, the company is well positioned for future growth, and Nigel and his team remain focused on driving franchisee profitability and delivering shareholder value."
Walgreens, Roush Fenway Racing launch interactive promotion
Deerfield Park, Ill. – Walgreens and Roush Fenway Racing have launched a partnership to stage "The Race Around America" interactive promotion, presented by Balance Financial Prepaid MasterCard from Walgreens. By registering their cards for the promotion, Balance financial card cardholders will be entered in the sweepstakes portion of the omni-channel promotion.
Cardholders can earn additional automatic entries, up to five times per day, by making a purchase or reloading their Balance financial cards. Consumers can enter between Feb. 23 and Oct. 15, 2014.Customers will be able to view webisodes of Roush Fenway Racing drivers in the Stage 3 Mustang which will the promotion’s grand prize, and also interactively vote on what route across the country drivers should take.
"The eye-catching design reflects the patriotism for which NASCAR fans are well known, and we are proud that our Race Around America Mustang will sport red, white and blue, so fitting for one of America’s greatest auto brands," said John Schmidtke, manager, Walgreens Loyalty Marketing.