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Ingles Markets, Incorporated Reports Increased Sales and Pretax Income for Second Quarter and First Six Months of Fiscal 2019

Ingles Markets, Incorporated - Class A (IMKTA) 
Company Research Source: Business Wire
ASHEVILLE, N.C.--(BUSINESS WIRE)-- Ingles Markets, Incorporated (NASDAQ: IMKTA) today reported increased sales and pretax income for the three and six months ended March 30, 2019. Net sales totaled $1.00 billion and net income totaled $15.0 million for the second quarter ended March 30, 2019, compared with net sales of $984.6 million and net income of $9.3 million, for the second quarter of fiscal year 2018. Net sales totaled $2.06 billion and pretax income totaled $47.3 million for the six months ended March 30, 2019, compared with net sales of $2.00 billion and pretax income of $37.6 million for the six months ended March 31, 2018. Net income totaled $37.2 million and $54.4 million for the comparative 2019 and 2018 six month periods. Fiscal year 2018 six month net income was positively impacted by a $26.7 million tax benefit from the passage of the Tax Cuts and Jobs Act of 2017 (Tax Act). For f Show less Read more
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