Weis Markets ‘traks’ down a new plan
Weis Markets is turning to ReposiTrak in hopes of boosting its sales after the company’s second-quarter report put an end to its 16th consecutive quarterly sales increase.
The company announced that it is deploying ReposiTrak Scan-based Trading to increase sales and streamline its supply chain operations while reducing costs and improving inventory management. ReposiTrak is a speed retail platform, that develops solutions in compliance, food safety, and risk management for retail supply chains. According to ReposiTrak, Scan-based Trading helps buyers and sellers better understand and act on consumer demand by having suppliers retain product ownership until the point of retail sale.
“ReposiTrak has the largest network of scan-based trading suppliers in the industry, which improves our overall efficiency and helps position us to meet our needs for future growth,” said Donna Banks-Ficcio, Vice President of Center Store Sales & Merchandising at Weis Markets. “To remain competitive in our market, we realize there’s a significant opportunity for us to leverage their programs and solutions to drive profitable sales, improve inventory management and substantially enhance our supply chain performance.”
After reporting its 16th consecutive quarter of comparable store sales increases in May, Weis Markets reported that its second-quarter same-store sales decreased 0.3 percent. The company blamed the decrease on the 2018 Easter sales week falling on the last week of the first quarter. The company also said sales were negatively impacted by the timing of the fourth of July holiday, which fell later in the week following the conclusion of the second quarter. Management estimates the incremental sales impact of the holiday shifts was approximately $12.5 million, which is reflected in its adjusted second-quarter comparable store sales.
“We’re excited to help a great regional supermarket chain, Weis Markets, with a reputation for deploying the best technology to optimize their supply chain operations,” said Randy Fields, Chairman and CEO of ReposiTrak. “Our industry-leading Supply Chain Solutions have a long, proven track record of helping companies lower inventory costs and increase revenue that significantly moves the needle on business performance. Our ‘secret sauce’ lies in the innovative technology and the hands-on approach we employ to empower and drive the efficiencies our customers can enjoy to better their businesses.”
Based in Sunbury, Penn., Weis Markets just opened its 206th store in Randolph, N.J., with locations in Pennsylvania, Maryland, New York, New Jersey, West Virginia, Virginia and Delaware.