Ingles Markets has reported net sales of $945.1 million for its first fiscal quarter ended Dec. 28, 1.1 percent higher than last year’s first fiscal quarter ended Dec. 29, 2012 ($935.0 million). Net income totaled $9.5 million for the December 2013 quarter compared with net income of $11.6 million for the quarter ended December 2012.
“We wanted to keep prices low for our customers throughout the holiday season,” said CEO Robert P. Ingle II. “We believe these actions strengthened ties with our customers and will benefit us in the long run.”
For the comparable December 2013 and 2012 quarters, and excluding gasoline sales, grocery segment comparable store sales decreased 0.8 percent, weekly customer visits increased slightly and the average transaction amount decreased slightly, according to the company.
Gross profit for the first quarter of fiscal 2014 totaled $203.5 million, a decrease of $4.7 million, or 2.3 percent, compared with the first quarter of fiscal 2013. Gross profit as a percentage of sales was 21.5 percent for the first quarter of fiscal 2014 compared with 22.3 percent for the first quarter of fiscal 2013.
Ingles Markets, headquartered in Asheville, N.C., operates 203 supermarkets across the Southeast.
