Regional US supermarket chain Ingles Markets has booked an increase in annual sales and underlying profits.
Net sales were up 0.5% at US$3.74bn for the year to the end of September. Ingles’ Markets previous financial year had an extra week; excluding that week, the retailer said it saw grocery comparable-store sales increase 1.8%.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
On a reported basis, net income was lower year-on-year, falling from $43.3m to $20.8m.
However, the result included a $43.1m pre-tax charge for extinguishing debt as part of the retailer’s refinancing.
CEO Robert Ingle II said: “We have increased sales every year since the company’s founding and completed a refinancing this year that positions the company for future sales and profitability growth.”
Click here for the full statement from Ingles Markets.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
