Ingles Markets Breaks Records in its Fiscal 2019 Report
ASHEVILLE, NC - Recently, Ingles Markets reported sales record highs for the 2019 fiscal year. The grocer’s financial press release stated the company had earned $4.20 billion for fiscal year 2019 compared with $4.09 billion in fiscal year 2018.
“We are pleased with another year of record sales, and with the steps we are taking for the long-term health of our company,” Robert P. Ingle II, Chairman of the Board, commented in the release. “Our associates continue to do a great job making sure our customers are happy.”
Highlights from the financial release include:
- Pre-tax annual income totaled $106.6 million for fiscal year 2019 and $80.3 million for fiscal year 2018
- Net income totaled $81.6 million in 2019 compared with $97.4 million in 2018
- Net income for the fourth quarter of fiscal 2019 totaled $20.9 million compared with net income of $18.4 million for the fourth quarter of fiscal 2018
- Net sales were $4.20 billion for the fiscal year ended September 2019 compared with $4.09 billion for the fiscal year ended September 2018
- Comparable store sales excluding gasoline in fiscal year 2019 increased 3.9 percent over fiscal 2018
The company further stated that interest rates on the company’s floating rate debt increased during fiscal year 2019, but overall debt levels decreased over the past twelve months.
Are we to expect more growth and expansion from this Southeastern chain? For more retail news, keep reading AndNowUKnow.