BLACK MOUNTAIN, N.C. -- Ingles Markets here recorded its 11th consecutive quarter of increased sales in the first quarter ended Dec. 24. However, the company also reported a loss in net income, which it attributed to a change in accounting principles. or last year's first quarter by the same amount -- net income dropped 46.5% to $3.8 million from $7.2 million in 1993. Robert P. Ingle, chairman and chief executive officer, said the company's sales growth was due to several key factors: a ...

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