Ingles Market income more than doubles in Q3

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.

Login or Register to post a comment.