−Removed: All retail food store locations operate as conventional supermarkets.
−Removed: The retail food stores range in size from 8,000 to 71,000 square feet, with an average size of approximately 49,000 square feet.
−Removed: The Company’s store fleet includes a variety of sizes with a few locations in operation since the 1950’s;
−Removed: all stores are branded Weis Markets and provide the same basic offerings scaled to the size of each store.
−Removed: The following summarizes the number of stores by size categories as of year-end:
−Removed: Number of stores
−Removed: Number of stores
−Removed: 45,000 to 54,999
−Removed: 35,000 to 44,999
−Removed: 25,000 to 34,999
−Removed: The Company believes that opening new stores and remodeling current stores are vital for future Company growth.
−Removed: The location and appearance of its stores are important components of attracting new and retaining current customers.
−Removed: On an average basis, the Company has five to eight new stores in the process of being developed and dedicates one third of its capital budget to new stores annually, excluding acquisitions.
−Removed: Generally, another fifteen to twenty percent of the capital budget is dedicated to store remodels while the remainder is attributable to smaller in-store sales-driven projects, store maintenance and store support function expenditures.
−Removed: See the “Liquidity and Capital Resources” section included in “Item 7.
−Removed: Management’s Discussion and Analysis of the Financial Condition and Results of Operations” for more details regarding the Company’s capital expenditures.
−Removed: The following schedule shows the changes in the number of retail food stores, total square footage and store additions/remodels as of year-end:
−Removed: Beginning store count
−Removed: New stores (1)
−Removed: Opened relocated stores
−Removed: Closed stores
−Removed: Closed relocated stores
−Removed: Ending store count
−Removed: Total square feet (000’s), at year-end
−Removed: Additions/major remodels
−Removed: (1) In the second half of 2016, Weis Markets acquired five former Mars Super Market stores located in Baltimore County, Maryland;
−Removed: 38 former Food Lion Supermarket stores located in Maryland, Virginia and Delaware;
−Removed: and one former Nell’s Family Market store located in East Berlin, Pennsylvania.
−Removed: Utilizing its own centrally located distribution center and transportation fleet, Weis Markets self distributes approximately 68% of product with the remaining being supplied by direct store vendors.
−Removed: In addition, the Company has three manufacturing facilities which process milk, ice cream and fresh meat products.
−Removed: The corporate offices are located in Sunbury, PA.
The Company strives to be good stewards of the environment and makes this an important part of its overall mission.
8 unchanged sentences
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
−Removed: WEIS MARKETS, INC.
−Removed: The Company operates in a highly competitive market place.
+Added: The Company operates in a highly competitive marketplace.
The number and the variety of competitors vary by market.
21 unchanged sentences
Securities and Exchange Commission (SEC) by clicking on the “SEC Information” link.
+Added: WEIS MARKETS, INC.
The Company’s Corporate Governance materials can be found on the “Governance” page of its web site.
12 unchanged sentences
thus, reducing sales and gross profit margins.
−Removed: WEIS MARKETS, INC.
−Removed: Risk Factors:
Food safety issues could result in the loss of consumer confidence in the Company.
4 unchanged sentences
The Company may be unable to retain key management personnel.
−Removed: The Company's success depends to a significant degree upon the continued contributions of senior management.
+Added: The Company’s success depends to a significant degree upon the continued contributions of senior management.
The loss of any key member of management may prevent the Company from implementing its business plans in a timely manner.
1 unchanged sentence
Financial, Investments and Infrastructure Risks
−Removed: The failure to execute expansion plans could have a material adverse effect on the Company's business and results of its operations.
+Added: The failure to execute expansion plans could have a material adverse effect on the Company’s business and results of its operations.
Circumstances outside the Company’s control could negatively impact anticipated capital investments in store, distribution and manufacturing projects, information technology and equipment.
1 unchanged sentence
Achieving the anticipated benefits may be subject to a number of significant challenges and uncertainties, including, without limitation, the possibility of imprecise assumptions underlying expectations regarding potential synergies and the integration process, unforeseen expenses and delays diverting management’s time and attention and competitive factors in the marketplace.
−Removed: The Company’s investment portfolio may suffer losses from changes in market interest rates and changes in market conditions which could adversely affect results of income or liquidity.
−Removed: The Company’s marketable securities consist of corporate and municipal bonds and equity securities.
−Removed: These investments are subject to general credit, liquidity, market and interest rate risks.
−Removed: As a result, the Company may experience a reduction in value or loss of liquidity from investments, which may have a negative impact on the Company’s results of operations, liquidity and financial condition.
−Removed: Unexpected factors affecting self-insurance claims and reserve estimates could adversely affect the Company.
−Removed: The Company uses a combination of insurance and self-insurance to provide for potential liabilities for workers'
−Removed: compensation, general liability, vehicle accident, property and associate medical benefit claims.
−Removed: Management estimates the liabilities associated with the risks retained by the Company, in part, by considering historical claims experience, demographic and severity factors and other actuarial assumptions which, by their nature, are subject to a high degree of variability.
−Removed: Any projection of losses concerning workers’ compensation and general liability is subject to a high degree of variability.
−Removed: Among the causes of this variability are unpredictable external factors affecting future inflation rates, litigation trends, legal interpretations, benefit level changes and claim settlement patterns.
−Removed: Information Security, Cybersecurity and Data Privacy Risks
−Removed: Disruptions or cybersecurity breaches in the Company’s information technology systems could adversely affect results.
−Removed: The Company’s business is highly dependent on complex information technology systems that are vital to its continuing operations.
−Removed: If the Company was to experience difficulties maintaining existing systems or implementing new systems, significant losses could be incurred due to disruptions in its operations.
−Removed: Additionally, these systems contain valuable proprietary data as well as receipt and storage of personal information about its associates and customers, in particular electronic payment data and personal health information that, if breached, would have an adverse effect on the Company.
−Removed: Such an occurrence could adversely affect the Company’s reputation with its customers, associates, and vendors, as well as the Company’s operations, results of operations, financial condition and liquidity, and could result in litigation against the Company or the imposition of penalties.
WEIS MARKETS, INC.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.