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Dec 28, 2019
Ingles Q1 2020 Earnings Report
Ingles Markets' financial results were reported for the quarter ended December 28, 2019, compared with the quarter ended December 29, 2018.
Key Takeaways
Ingles Markets reported a 1.6% increase in total sales for the December 2019 quarter, reaching $1.08 billion. However, net income decreased to $17.7 million due to $3.7 million of refinancing costs. Comparable store sales, excluding gasoline, increased 2.4%.
Total sales increased by 1.6% compared to the same quarter last year.
Net income decreased due to refinancing costs.
Comparable store sales, excluding gasoline, increased by 2.4%.
Long-term financing was completed, expected to lower interest costs.
Ingles
Ingles
Forward Guidance
Total fiscal 2020 capital expenditures are expected to be between $120 million and $160 million.