BLACK MOUNTAIN, N.C. -- Ingles Markets here said sales increased 7.4% to $301.5 million in the second quarter ended March 26. It marked the company's eighth consecutive quarter of improved sales results.
nd has increased variety in its grocery department.
Ingles also has reported net-income increases for six consecutive quarters, Ingle said.
In the 13-week quarter, net income totaled $3.9 million, an increase of 53%. Gross profit rose 11.8% to $68 million.
As a result of its strong performance, Ingle said, the company has resumed its store-expansion program and expects to open eight new stores in the current fiscal year. A total of 22 new stores is under construction and 25 units are in the process of being expanded or remodeled, he said.
In the six-month period, income before the effect of an accounting change totaled $7.7 million. This represented a 53% increase on a comparable basis.