ASHEVILLE, N.C. — Regional supermarket chain Ingles Markets experienced a positive third quarter that included big boosts to its net sales and net income.
For the quarter ended June 25, Ingles saw a 6.4% spike in net sales to $911 million, thanks to higher same-store sales, an increase in stores in operation and growth in customer transactions and transaction amounts, the company said. Meanwhile, the retailer's net income also garnered a substantial gain of 11.2% to $12.7 million.
"Our daily focus is to provide value to our customers, increase sales and provide profits for our shareholders," Ingles Markets CEO Robert Ingle said. "The results for the third quarter reflect success in those areas in spite of economic and competitive challenges."
At the end of the quarter, Ingles opened one store. The company also remodeled five stores over a nine-month period ended in June.