WEIS MARKETS, INC. REPORTS DELAY OF ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 27, 2025
Rhea-AI Summary
Weis Markets (NYSE: WMK) said it will delay filing its Annual Report on Form 10-K for the 52-week year ended December 27, 2025 to complete a review and restatement of historical financial statements related to certain overstated inventory amounts.
The company estimates the aggregated inventory overstatement at up to $22 million as of September 27, 2025 (about 6.7% of Inventories and 1.1% of Total Assets), and expects to file the 10-K, including restated financials, no later than March 12, 2026, though the timing may change. Preliminary net sales were $4.96 billion for fiscal 2025, up 3.5% year-over-year; comparable store sales excluding fuel rose 2.1% year-over-year and 4.0% two-year stacked.
Positive
- Net sales $4.96B for fiscal 2025 (+3.5% YoY)
- Comparable store sales excluding fuel +2.1% YoY
- Two-year stacked comparable sales +4.0%
Negative
- Delay of Annual Report on Form 10-K with potential further delay
- Estimated inventory overstatement up to $22 million
- Overstatement equals 6.7% of Inventories and 1.1% of Total Assets
News Market Reaction – WMK
In the Feb 26 session, WMK declined 7.16%, reflecting a notable negative market reaction. Argus tracked a trough of -4.1% from its starting point during tracking. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
At this time, the Company estimates that the incorrect recording of overstated inventory is up to
In the interest of providing shareholders with relevant and timely information, the Company is disclosing certain preliminary unaudited net sales results. Net sales and other revenue totaled
About Weis Markets
Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 203 stores in
In addition to historical information, this news release may contain forward-looking statements, which are included pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. For example, risks and uncertainties can arise with changes in: general economic conditions, including their impact on capital expenditures; tariffs and trade policies; business conditions and trends in the retail industry; the regulatory environment; rapidly changing technology, including cybersecurity and data privacy risks, and competitive factors, including increased competition with regional and national retailers; and price pressures. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect Management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risk factors described in other documents the Company files periodically with the Securities and Exchange Commission. Management is also providing a two-year stacked comparable store sales analysis, a non-GAAP measure, because Management believes this metric is useful to investors and analysts. It is not recommended that the two-year-stacked analysis be considered a substitute for the Company's operating results as reported in accordance with GAAP.
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SOURCE Weis Markets