US-based Ingles Markets has reported “record” second-quarter results, as the grocer booked a 38% surge in net income.
The retailer said on Friday (29 April) that net income reached US$7.7m during the quarter ended 26 March, while net sales rose 4% to reach $870.4m.
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CEO Robert Ingle II said: “Our record results for the second quarter are a testament to the legacy of Robert Ingle, the company’s founder, who passed during this quarter. He always emphasised increased sales and would have been proud of these results. Our entire management team remains committed to his focus on growing our business and providing top service to our customers.”
For the first half, net income was up 32.4% to reach $15.4m, while net sales rose 3.9% to $1.74bn.
