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
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.”
See Also:
Click here for the full statement from Ingles Markets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
