Fiscal year 2018 net income was positively affected by the passage of the Tax Cuts and Jobs Act of 2017 .
Net income for the fourth quarter of fiscal 2018 totaled $18.4 million, compared with net income of $19.4 million for the fourth quarter of fiscal 2017.
Customer count and average transaction size – both excluding gasoline and adjusted to the same number of weeks – were higher for the fourth quarter of fiscal 2018 compared with the year-ago period.
The income tax benefit for Ingles’ fiscal year 2018 totaled $17 million, compared with income tax expense of $30.4 million for fiscal year 2017.
Additional store improvement capital projects in fiscal 2018 focused on enhanced merchandising, convenience and product selection.
Tax reform, gas sales rise and Easter in March help growth
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