WEIS MARKETS Business Summary

Weis Markets Inc (WMK) is a prominent Mid-Atlantic food retailer that generates revenue primarily through the transaction-based sale of groceries, pharmacy services, and fuel. The company’s business is categorized into three primary segments: Center-store (comprising approximately 82% of revenue from groceries, dairy, and frozen foods), Fresh (perishables including meat, produce, and bakery), and ancillary services (pharmacy and fuel). Operating over 200 stores across Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia, and Virginia, the company maintains a vertically integrated supply chain, self-distributing over half of its products through its own distribution centers and manufacturing facilities for milk and meat. Its primary direct competitors include Ingles Markets, Village Super Market, and Kroger; within this landscape, Weis Markets positions itself as a high-value regional alternative, leveraging a debt-free balance sheet and localized market density to compete against national giants and specialty grocers. Originally founded in 1912 by brothers Harry and Sigmund Weis as "Weis Pure Foods," the company remains a family-controlled enterprise with the founding family retaining approximately 65% of outstanding shares. The current leadership team is headed by Jonathan H. Weis, who serves as Chairman, President, and CEO; a third-generation leader and Yale alumnus, he has been with the company since 1989. Supporting him are Michael T. Lockard (Senior VP, CFO, and Treasurer), Robert G. Gleeson (Chief Operating Officer, promoted in early 2025), and R. Gregory Zeh Jr. (Senior VP and Chief Information Officer). The Board of Directors features notable industry figures such as Edward J. Lauth III, CEO of Shaner Capital, and Dennis G. Hatchell, providing a blend of family legacy and independent oversight that guides the company’s conservative fiscal strategy and consistent dividend policy.