WEIS MARKETS, INC. REPORTS DELAY OF ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 27, 2025
MWN-AI** Summary
Weis Markets, Inc. (NYSE: WMK) has announced a delay in filing its Annual Report on Form 10-K for the fiscal year ended December 27, 2025. The delay arises from the need for additional time to assess the impact of incorrect inventory reporting, which has resulted in overstated inventory amounts. The company is working diligently on the review and restatement of its historical financial statements, particularly addressing an estimated overstatement of inventory that could be as high as $22 million. This error accumulated over several reporting periods, making up approximately 6.7% of the company’s current asset inventory and about 1.1% of total assets reported on the consolidated balance sheet as of September 27, 2025.
Weis anticipates having the Annual Report, including all necessary restated financial statements, filed no later than March 12, 2026. However, they caution that this timeline could be subject to further delays, as they continue their review process. Importantly, while the company believes it is on the path to reporting the estimated adjustments, it also cannot guarantee that these figures won't change significantly by the time of the final adjustments.
In terms of operational performance, Weis Markets reported preliminary unaudited net sales totaling $4.96 billion for the 52-week fiscal year ending December 27, 2025, reflecting a 3.5% increase compared to the previous fiscal year. Comparable store sales, excluding fuel, increased by 2.1% year-over-year and 4.0% when viewed on a two-year stacked basis.
Founded in 1912, Weis Markets is a notable Mid-Atlantic retailer operating 203 stores across several states, and it continues to navigate these challenges while providing updates to its shareholders.
MWN-AI** Analysis
Weis Markets, Inc. (NYSE: WMK) has recently announced a delay in filing its Annual Report on Form 10-K for the fiscal year ending December 27, 2025, due to the need for a review and restatement of historical financial statements. Specifically, the Company identified an overstatement of inventory values estimated at up to $22 million, representing approximately 6.7% of its inventory. This issue raises significant concerns for investors about the accuracy of financial reporting and overall management effectiveness.
The delayed filing creates uncertainty in the market, and while Weis reported a 3.5% increase in net sales for the fiscal year, the underlying inventory restatement could cast a shadow on future earnings and operational integrity. Investors should closely monitor how the restatement impacts the company’s balance sheet and whether there are any further complications that could lead to additional delays in reporting.
Moreover, the delay puts pressure on management to act swiftly and transparently; any indication of mismanagement could trigger stock volatility. Despite the company's growth trajectory, as seen in its comparable store sales, the inventory issue suggests a need for enhanced internal controls and more stringent financial oversight moving forward.
For potential investors, it is advisable to adopt a cautious approach until the restated financial statements are available. Waiting for clarity may be prudent, as the market might react to downward revisions in earnings guidance or the identification of further issues in the Company’s financial practices. Caution is also warranted when evaluating future profitability and operational metrics in light of these discrepancies.
In summary, while Weis Markets maintains a positive revenue trend, the current situation warrants vigilance and a measured investment strategy until further clarity is provided.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
SUNBURY, Pa., Feb. 25, 2026 /PRNewswire/ -- Weis Markets, Inc. (NYSE: WMK) (the "Company") today announced that it will delay the filing of its Annual Report on Form 10-K for the 52-week fiscal year ended December 27, 2025. The filing is delayed because the Company requires additional time to complete a review and analysis of the impact to, and associated restatement of, its historical financial statements related to the incorrect recording of certain overstated inventory amounts. The Company continues to work diligently to complete the remaining review and restatement procedures. The Company expects to file its Annual Report on Form 10–K for the 52–week fiscal year ended December 27, 2025, including all required restated financial statements, no later than March 12, 2026; however, the timing of the filing may be subject to further delay, and the Company cannot provide assurance regarding the definitive filing date while this work remains in progress.
At this time, the Company estimates that the incorrect recording of overstated inventory is up to $22 million as of the quarter ended September 27, 2025 which is an aggregation of an error that accumulated over multiple reporting periods. As of the quarter ended September 27, 2025, the aggregated estimate amount represents approximately 6.7% of Inventories within Current Assets and approximately 1.1% of Total Assets on the Consolidated Balance Sheet. These estimated adjustments are preliminary, and while the Company currently expects to report such estimated adjustments, there can be no assurance that the final adjustments made as part of any restatement will not differ materially from these estimates.
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 $4.96 billion for the 52–week fiscal year ended December 27, 2025, compared with $4.79 billion for the 52–week fiscal year ended December 28, 2024, an increase of 3.5 percent. Fiscal year 2025 comparable store sales excluding fuel increased 2.1 percent on an individual year–over–year basis and increased 4.0 percent on a two–year stacked basis.
About Weis Markets
Founded in 1912, Weis Markets, Inc. is a Mid Atlantic food retailer operating 203 stores in Pennsylvania, Maryland, Delaware, New Jersey, New York, West Virginia and Virginia. For more information, please visit: WeisMarkets.com or?Facebook.com/WeisMarkets.
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.
SOURCE Weis Markets
FAQ**
What specific actions is Weis Markets Inc. WMK taking to address the incorrect recording of overstated inventory amounts, and how might this impact future financial statements?
How do the preliminary unaudited net sales results for the fiscal year ended December 27, 2025, reflect Weis Markets Inc. WMK's overall financial health and growth strategy amid the current challenges?
Given the delay in filing the Annual Report on Form 10-K, what measures is Weis Markets Inc. WMK implementing to enhance transparency and maintain investor confidence during this period?
What potential risks or uncertainties does Weis Markets Inc. WMK foresee in the restatement process, and how could these affect the company's financial outlook and stock performance?
**MWN-AI FAQ is based on asking OpenAI questions about Weis Markets Inc. (NYSE: WMK).
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