ASHEVILLE, N.C. -- Ingles Markets here said last week that sales and earnings rose for the third quarter and 39 weeks ended June 24.
increased 2.4% for the quarter and 2.9% for the nine months.
Net income increased 8.9% to $5.6 million for the quarter and 26.8% to $16.9 million for the 39 weeks.
Robert P. Ingle, chairman and chief executive officer of the 209-store chain, said he attributed the positive sales and earnings trends to "effective marketing strategies and efficient purchasing," as well as to improvements in store facilities and an expanded array of product offerings.
During the quarter Ingles said it opened two new stores and three replacement stores -- including introduction of its first in-store pharmacy -- and completed two minor remodels. For the year to date Ingles said it has opened four new stores and six replacement stores and completed nine minor remodels.
During the balance of the year Ingles said it will open three replacement stores and complete two expansions and two minor remodels, including installation of its first gas pumps.
