Ingles Markets, Incorporated reported record core grocery sales and record net income for fiscal 2015. Total sales were $3.78 billion for fiscal 2015 compared with $3.84 billion in fiscal 2014. For the full fiscal years ended September 2015 and 2014, net income rose to $59.4 million in 2015 compared with $51.4 million in 2014.
Ingles operated 201 stores and approximately 11.0 million square feet of store space at the end of fiscal 2015 and 202 stores at the end of fiscal 2014. During fiscal 2015, the company opened one new store and closed two stores that are being rebuilt and will reopen in the future. The company’s other store improvement capital projects this year focused on improved merchandising, convenience and the range of products offered to customers.
The growth in core grocery sales for the fourth quarter and fiscal 2015 were offset by lower gasoline prices compared with the prior year. Commenting on the results, Robert P. Ingle II, Chief Executive Officer, said, “We are pleased with our core grocery sales growth, which drove a strong increase in net income for the year.”
Net sales totaled $952.8 million for the quarter ended September 26, 2015, compared with $964.8 million for the comparable quarter in fiscal 2014. Comparable store sales, excluding gasoline, increased 3.1%.