Ingles Markets adds to pandemic-driven sales gains in third quarter supermarketnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from supermarketnews.com Daily Mail and Mail on Sunday newspapers.
Earnings remain strong as regional grocer looks back to early pandemic period
Ingles Markets reported a fiscal 2021 second-quarter sales uptick after notching double-digit gains a year ago, driven by consumer panic-buying in the early weeks of the COVID-19 pandemic.
For the quarter ended March 27, net sales rose 3.4% to $1.18 billion from $1.14 billion a year earlier, Ingles said yesterday. Grocery retail same-store sales edged up 2.6% year over year, excluding fuel. The Asheville, N.C.-based grocer noted in its 10-Q filing with the Securities and Exchange Commission that gasoline dollar sales and gallons sold were higher in the 2021 quarter versus the the prior-year period because of increased travel as pandemic restrictions have relaxed.