Slashing food stamps hurts the poor. It also hurts their supermarkets [CNNMoney.com]
Weis Markets, Inc. (WMK)
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Source: CNNMoney.com
Slashing food stamps hurts the poor. It also hurts their supermarkets New York (CNN Business) Independent grocery stores and regional supermarket chains already face brutal competition and shrinking profits. Now, they are worried about losing out on a valuable source of sales: food stamp recipients. A new Trump administration rule will require more low-income recipients to work in order to receive benefits from the Supplemental Nutrition Assistance Program, or SNAP. The change, which could save the federal government $5.5 billion over five years, could result in nearly 700,000 people losing assistance, the Department of Agriculture estimates. Folks are using these things for necessities...It's not graft-taking. It is a belly-filling, sobering basket." Kurt Schertle, chief operating officer at Weis Markets. The rule is set to go into effect in April. But a coalition of 14 states, New York City and the District of Columbia, have filed a lawsuit challenging the rule . The lawsu
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WMK
Sec Filings
- 11/7/24 - Form 10-Q
- 11/5/24 - Form 8-K
- 10/22/24 - Form 8-K
- WMK's page on the SEC website