Ingles Markets Records 8% Growth In Q4 Revenue

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Ingles Markets Incorporated IMKTA reported fourth-quarter FY22 sales growth of 8.2% year-on-year, to $1.45 billion.
Excluding gasoline sales, comparable store sales increased 5.2% Y/Y.
Gross profit for the quarter climbed 6.9% to $364.8 million, with the margin compressing from 25.6% to 25.1%.
The operating margin was 6.7%, and operating income for the quarter fell 1.9% to $96.8 million.
The company held $267.2 million in cash and equivalents as of September 24, 2022.
Inventories at the end of the quarter rose 17.4% to $457.9 million.
EPS was $3.69 versus $3.78 a year ago.
Price Action: IMKTA shares closed higher by 1.58% at $99.18 on the last check Wednesday.
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