BLACK MOUNTAIN, N.C. (FNS) -- Ingles Markets here may settle a lawsuit from four current and former employees alleging gender discrimination. The Federal Court for the Northern District of Georgia, Rome, Ga., stayed the class action suit while the two parties attempted to work out a settlement.
The retailer said last week sales were up but higher expenses resulted in an earnings decline for the second quarter and first half ended March 28.
Sales rose 4.6% for the quarter to $393.5 million and 5.2% for the half to $796.6 million, while same-store sales declined 1.07% for the quarter and 0.5% for the half. The company said the drop in same-store sales was due to Easter falling in the third quarter this year, compared with the second quarter a year ago.
Net income fell 37.3% to $3.3 million for the 13-week quarter and 40.4% to $6.2 million for the half, while operating cash flow improved for the quarter to $25.9 million, compared with $25.8 million a year earlier, but fell for the year to date to $50.2 million, compared with $51.7 million a year ago.
According to Robert P. Ingle, chairman and chief executive officer, the company incurred additional costs to modernize its store base.