Ingles Markets Incorporated Reports Record Sales and Net Income for Fiscal 2018
Ingles Markets, Incorporated (NASDAQ: IMKTA) today reported total sales of $4.09 billion for fiscal year 2018 compared with $4.00 billion in fiscal year 2017. For the fiscal years ended September 2018 and 2017, net income totaled $97.4 million in 2018 compared with $53.9 million in 2017. Fiscal year 2018 net income was positively impacted by the passage of the Tax Cuts and Jobs Act of 2017 (Tax Act).
Total sales for the 13 week fourth quarter of fiscal 2018 were $1.06 billion compared with $1.09 billion for the 14 week fourth quarter of fiscal 2017. Net income for the fourth quarter of fiscal 2018 totaled $18.4 million compared with net income of $19.4 million for the fourth quarter of fiscal 2017 ...
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