Ingles profit stays flat in Q3

Asheville, N.C. – Profit stayed essentially flat at Ingles Markets Inc. for the third quarter of fiscal 2015. Ingles reported net income of $13.78 million, compared to $13.83 million the same quarter the prior fiscal year.



Lower interest and income tax expenses helped Ingles keep profits steady in the face of net sales declining 3% to $945.97 million, from $978.26 million. Declining gasoline prices negatively impacted sales.



“Our store sales continue to grow, helped by continuous improvement to our in-store experience,” said Robert P. Ingle, CEO.