Ingles Markets has announced that it experienced a positive first quarter of the fiscal year, with net sales up 3.8 per cent year-on-year to hit US$873m, compared with US$841m in 2009.
Net income for the quarterly period ended 25 December 2010 soared to US$7.7m, an improvement on the US$6m of the previous year.
Grocery segment comparable store sales increased by 2.9 per cent during the quarter, Ingles reported, and while customer numbers remained level, average transaction sizes climbed.
'We are off to a strong start for fiscal year 2011 with increased sales and profits for the quarter that included Thanksgiving and Christmas,' said group CEO Robert Ingle. 'Overall conditions are improving somewhat, but we continue to be cautious about the next few quarters.'
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