Gross profit for the fourth quarter of fiscal 2012 rose to $220.0 million, an increase of $17.6 million, compared with the fourth quarter of fiscal 2011. Gross profit as a percentage of sales was 22.2% for the fourth quarter of fiscal 2012 compared with 22.4% for the fourth quarter of fiscal 2011. Grocery segment gross margins, excluding gasoline, were 26.1% for both the current-year quarter and for the fourth quarter of fiscal 2011.Operating and administrative expenses for the September 2012 quarter totaled $185.2 million. Operating and administrative expenses as a percentage of sales were 18.7% for the fourth quarter of fiscal 2012, compared with 19.0% for the fourth quarter of fiscal 2011. The largest line item increase was personnel costs related to the opening of the new 839,000 square foot distribution center in June 2012. Ingles operated 203 stores and 11.0 million square feet of store space at the end of fiscal 2012 and at the end of fiscal 2011. The Company’s store improvement capital projects this year did not result in increased square footage, but improved merchandising, convenience and the range of products offered to our customers.
Ingles Markets, Incorporated Reports 48th Year Of Record Sales, Plus Growth In Sales And Net Income For Fourth Quarter And Fiscal Year 2012
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