Ingles rings up higher sales, income

Ingles Markets Inc reported sales increases for its third quarter and nine months ended June 25, 2005.

Net sales for the June 2005 quarter increased 5.4% over the June 2004 quarter to $566.7 million, while comparable store sales grew 5.5% for the same period. For the nine months ended June 25, 2005, net sales rose 5.7% over the 2004 period to $1.68 billion, while comparable store sales grew 5.6%.

Gross profit dollars for the three- and nine-month periods ended June 2005 increased $2.1 million and $15.5 million, respectively, compared with the same periods of fiscal 2004.

Net income for the June 2005 quarter totaled $6.6 million, compared with $8.3 million for the June 2004 quarter. Net income for the nine months ended June 25, 2005, was $17.2 million, versus $17.9 million for the June 2004 nine-month period.