ASHEVILLE, N.C. -- Ingles Markets here said that debt repayment, a smaller store base and mild weather led to a decline in sales and earnings for the first quarter, ended Dec. 29. Net income dropped 7.9% to $4.1 million, mostly due to a $400,000 charge related to the early extinguishment of approximately $162.4 million in debt. Sales dropped 1.1% to $500 million from the previous first quarter, and comparable-store sales also dropped 1%. Robert P. Ingle, chairman and chief executive ...

REGISTER TO VIEW THIS ARTICLE - Register for a Free Account

Why Register for FREE?

Salary Survey 2015

Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick.  What are you waiting for! In addition you will also receive complimentary access to the SN salary survey data tables.

Click here to read the FAQ page if you have any questions (opens in a new window)

Attention Paid Print Subscribers:  While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.

Already registered? here.