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Stock impact report

Ingles Markets, Incorporated Reports Increased Sales and Net Income for Second Quarter and First Six Months of Fiscal 2018

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 net income for the three and six months ended March 31, 2018. Net sales totaled $984.6 million and net income totaled $9.3 million for the second quarter ended March 31, 2018, compared with $946.2 million and $9.2 million, respectively, for the second quarter of fiscal year 2017. Net sales totaled $2.00 billion and net income totaled $54.4 million for the six months ended March 31, 2018, compared with $1.93 billion and $23.0 million, respectively, for the six months ended March 25, 2017. Fiscal year 2018 net income was impacted by the passage of the Tax Cuts and Jobs Act of 2017 (Tax Act). For fiscal year 2018, Easter occurred in March and benefitted sales for the second quarter of this fiscal year. For fiscal year 2017, Easter occurred in April and benefitted sales for the third qua Show less Read more
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