INGLES MARKETS SEES SALES, NET INCOME POST INCREASES

ASHEVILLE, N.C. -- Ingles Markets here reported net sales increased 8.2% to $357.4 million during the first quarter ended Dec. 30.

or 23% of sales, compared to $73.6 million, or 22.3% of sales in the year-ago period.

During the quarter, Ingles opened one new store and remodeled or replaced three. During the remaining three quarters, the company plans to open eight new stores and expand, replace or remodel six.

Robert P. Ingle, chairman and chief executive officer of Ingles Markets, attributed the gains to "aggressive merchandising, pricing, effective advertising and increased variety."

1ST-QUARTER RESULTS

Qtr Ended 12/30/95 12/24/94

Sales $357.4 million $330.2 million

Change 8.2%

Same-store 6%

Net Income $4.7 million $3.8 million

Change 23.7%

*Inc/Share 24 cents 20 cents

*Fully diluted earnings per common share. Primary earnings per share amounted to 26 cents for this quarter and 21 cents for the year-ago period.