FINANCIAL POSITION AND RESULTS OF OPERATIONS
The following discussion and analysis of
The Company advertises its products and promotes its brand through digital and print flyers; radio announcements; sending e-mails; and online through its website, social media and mobile apps. The Company promotes using Daily
Using its own strategically located distribution center and its own transportation fleet,
The president has declared a national emergency over the disease. This has resulted in government-mandated shutdowns, as well as multiple pieces of legislation to provide emergency economic relief to individuals, families and businesses affected by the novel coronavirus pandemic. These events were accretive to our sales and gross profit compared to the periods before the impact of the novel coronavirus pandemic. The Company is not in a position to speculate on how the resulting savings or related unknown future expenses will affect it after the end of government measures in the event of the novel coronavirus pandemic.
The company continues to innovate and stay relevant to industry trends and provide convenience to customers by introducing programs such as “Weis 2 Go Online” ordering with curbside pickup and door-to-door delivery . From
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WEIS MARKETS, INC.ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)
Two-Year Stacked Comparable Store Sales Analysis
Management provides a two-year cumulative comparable store sales analysis, a non-GAAP measure because management believes this measure is useful to investors and analysts. A two-year cumulative comparable store sales analysis presents a comparison of results and trends over a longer period to demonstrate the effect of the novel coronavirus pandemic on the Company’s operating results. The information presented in the tables below is not intended to be used as an alternative to any other performance measure. It is not recommended that this table be considered a substitute for the Company’s results of operations as presented in accordance with GAAP.
Year-over-year and sequential comparisons are the primary calculations used to analyze operating results, however, due to significant fluctuations caused by the novel coronavirus pandemic, management believes it is necessary to provide a two-year stacked comparable store sales analysis. The following tables present the two-year cumulative comparable store sales, including and excluding motor fuel, for the periods ended
after the 18.5% increase for the same period in 2020.
Percentage Changes 13 Weeks Ended 2022 vs. 2021 2021 vs. 2020 Comparable store sales (individual year) 8.4 % (5.8) % Comparable store sales (two-year stacked) 2.6 Comparable store sales, excluding fuel (individual year) 6.0 (7.7) % Comparable store sales, excluding fuel (two-year stacked) (1.7) % Percentage Changes 26 Weeks Ended 2022 vs. 2021 2021 vs. 2020 Comparable store sales (individual year) 8.9 % (2.4) % Comparable store sales (two-year stacked) 6.5 Comparable store sales, excluding fuel (individual year) 6.8 (3.6) % Comparable store sales, excluding fuel (two-year stacked) 3.2 %
When calculating the percentage change in comparable store sales, the Company defines a new store as comparable after it has been in operation for five full quarters. Stores relocated and stores expanded are included in same store sales as these units are located in existing markets and are open during construction. Planned store disposals are excluded from the calculation. The Company includes only retail food stores in the calculation.
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