Sales rise of 1.3% for Ingles Markets in 4Q
Ingles Markets here on Monday said its fourth-quarter comparable-store sales rose about 1.3%, adjust…Ingles Markets here on Monday said its fourth-quarter comparable-store sales rose about 1.3%, adjusted for the extra week in the preceding year and excluding gasoline.
Net income for the recent 13-week quarter, which ended Sept. 28, rose 17.2%, to $15.6 million, vs. the 14-week quarter of a year ago. Sales for the quarter were $948.9 million, vs. $993.9 million in the year-ago quarter, including the extra week.
Gross profit as a percentage of sales was 22.2% for the fourth quarter of fiscal 2013, vs. 22.1% in the year-ago quarter.
For the full year, net income in fiscal 2013 was $20.8 million, down from $43.4 million in fiscal 2012. The recent year included a pre-tax charge of $43.1 million in the third quarter related to early extinguishment of debt. Excluding that charge, net income would have risen, Freeman said in the conference call.
Sales for the recent, 52-week year were up about 0.5%, to $3.74 billion, vs. the 53-week fiscal year in 2012.
Comparing the 52 calendar weeks of fiscal 2013 with the corresponding 52 calendar weeks of the previous year, grocery segment comps rose 1.8%, excluding gasoline sales, Freeman said. The number of customer transactions increased 1.7%, and the average transaction size was “essentially level,” excluding gasoline sales, Freeman said.