Ingles Markets experienced a highly profitable 2019, recently reporting record high sales for the fiscal year. The retailer’s financial press release stated Ingles Markets earned $4.2 billion for fiscal year 2019, up from $4.09 billion in fiscal year 2018.
“We are pleased with another year of record sales, and with the steps we are taking for the long-term health of our company,” Robert P. Ingle II, Chairman of the Board, commented in the release. “Our associates continue to do a great job making sure our customers are happy.”
Highlights from the financial release include:
Ingles Markets also reported that interest rates on its floating rate debt increased during fiscal year 2019, but overall debt levels decreased over the past 12 months.
Can we expect Ingles Markets’ growth trend to continue? Deli Market News will report.