Ingles Markets sees sales, earnings climb

Ingles Markets Inc reported both sales and earnings increases for its fiscal third quarter ended June 26, 2004, over the comparable 2003 period.

Net income for the June 2004 quarter rose $4.6 million to $8.2 million, compared with $3.6 million for the June 2003 quarter. Net sales for the June 2004 quarter advanced 6.8% over the June 2003 quarter, while comparable store sales grew 6.5% for the same period.

For the June 2004 nine-month period, net income climbed $8.6 million to $17.2 million, versus $8.6 million for the June 2003 nine-month period. Net sales for the June 2004 nine-month period rose 7.1% over the 2003 period, while comparable store sales grew 6.2%.

Headquartered in Asheville NC, Ingles operates 196 supermarkets in six southeastern states.

TAGS: Grocery
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