The ongoing COVID-19 pandemic continues to positively affect Ingles Markets financials.
Thanks to the ongoing COVID-19 pandemic, which has had “a significant impact on [its] operations,” Ingles Markets Inc. reported higher sales and net income for the three months ended Dec. 26, 2020, its first quarter of fiscal year 2021.
“We are pleased with our results, and we all continue to work hard to provide a safe and reliable shopping environment for our associates and customers,” said Robert P. Ingle II, Ingles’ chairman of the board. “We are also honored to participate in the COVID-19 vaccine distribution.”
The company’s net sales came to $1.19 billion for the quarter ended Dec. 26, 2020, a 10.4% increase compared with the $1.08 billion logged for the year-ago period. Its gross profit for the first quarter of fiscal 2021 was $314.2 million, or 26.4% of sales, versus $257.5 million, or 23.9% of sales, last year.