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Ingles Market income more than doubles in Q3

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Asheville, N.C. Ingles Markets said Friday that its net income more than doubled in the third quarter as revenue climbed and customers visited its stores more frequently.

For the three-month period that ended in late June, Ingles earned $11.7 million, up from last year's net income of $4.7 million. Revenue rose 3.5% to $856.1 million, up from $826.8 million last year.

The company’s same store sale were up 0.8%, which excludes the impact of gasoline sales.

Meanwhile, total customer transactions excluding gas sales, was up nearly 8% as shoppers made frequent -- but smaller -- shopping trips.

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