Cheaper gas sparks Q1 profit growth, higher rings for Ingles

Lower gas prices helped Ingles Markets achieve higher profits at the pump and left customers with more cash to buy groceries. The result was a 57.7% improvement in net earnings and a 2.1% increase in sales in the fiscal first quarter.

“I think the biggest impact with lower gas prices, [is that] the consumer just has a lot more money in his pocket,” Ron Freeman, Ingles CFO, said in a conference call discussing results of the period, which ended Dec. 27. “He is coming in. H

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