North Carolina retailer Ingles Markets Inc. reported higher sales but lower income in fiscal year 2017.
Sales for Asheville-based Ingles totaled $4 billion in 2017, up from $3.8 billion the year before. Net income was $53.9 million, down from $54.2 million in 2016.
For the fourth quarter of 2017, sales totaled $1.09 billion, up from $962.4 million in the same quarter last year. Income in the quarter was $19.4 million, up from $14.2 million during the same period of 2016.
“Our company achieved strong results due to the hard work and dedication of our associates,” says Robert P. Ingle II, Ingles’ chairman. “We will continue to bring our customers products they desire and flawless service in our stores.”
Ingles operates more than 200 stores in Georgia, North Carolina, South Carolina, Tennessee, Alabama and Virginia.