Q3 is kind to Ingles Markets
ASHEVILLE, N.C. — Regional supermarket chain Ingles Markets experienced a positive third quarter that included big boosts to its net sales and net income.
For the quarter ended June 25, Ingles saw a 6.4% spike in net sales to $911 million, thanks to higher same-store sales, an increase in stores in operation and growth in customer transactions and transaction amounts, the company said. Meanwhile, the retailer’s net income also garnered a substantial gain of 11.2% to $12.7 million.
"Our daily focus is to provide value to our customers, increase sales and provide profits for our shareholders," Ingles Markets CEO Robert Ingle said. "The results for the third quarter reflect success in those areas in spite of economic and competitive challenges."
At the end of the quarter, Ingles opened one store. The company also remodeled five stores over a nine-month period ended in June.
Watson’s Anda division to build Miss. warehouse, distribution center
PARSIPPANY, N.J. — Watson Pharmaceuticals will build a drug warehouse and distribution center in Mississippi, the drug maker said Thursday.
Watson said its Anda Distribution division would the $23.5 million, 234,000-sq.-ft. center in Olive Branch, Miss. The plant will employ 70 workers.
"Our new Olive Branch facility will enable Anda to maximize our proximity to and business relationship with Fed Ex, our current primary shipper," Anda Distribution EVP and COO Albert Paonessa said. "The new facility, as planned, will be more appropriately sized than our current leased facility in Phio, resulting in significant efficiencies that will further streamline Anda’s operations."
Mylan ships generic prostate drug
PITTSBURGH — Generic drug maker Mylan has begun shipping a drug for enlarged prostate, the company said Friday.
Mylan announced the launch of alfuzosin hydrochloride extended-release tablets in the 10-mg strength.
The drug is a generic version of Sanofi’s Uroxatral, which had sales of about $241 million during the 12-month period ended in June, according to IMS Health.