Asheville-based Ingles Markets, which has stores in Greenville and throughout the Upstate, reported higher sales and net income for the three months ended Dec. 24.
The company said net income totaled $13.8 million, compared with $13 million for the quarter ended Dec. 26, 2015. Total sales rose 3.3 percent.
“We are off to a good start this year with increased sales and net income, and have planned improvements to our store base in 2017 that we believe our customers will appreciate,” said Robert P. Ingle II, chairman of the board.
Net sales totaled $982.8 million for the quarter ended Dec. 24. That compared with $951.1 million for the quarter ended Dec. 26, 2015.
Comparable store sales, excluding gasoline, increased 1.8 percent.
Basic and diluted earnings per share for Class A common stock were 70 cents and 68 cents, respectively, for the quarter ended Dec. 24. That compared with 66 cents and 64 cents per share, respectively, for the quarter ended Dec. 26, 2015.
Basic and diluted earnings per share for Class B common stock were each 64 cents for the quarter ended Dec. 24. That compared with 60 cents per basic and diluted Class B share for the quarter ended Dec. 26, 2015.
