ASHEVILLE, N.C. — Ingles Markets eked out a small gain in comparable-store sales, but net income fell by 45.6% in the fiscal first quarter that ended Dec. 26, the retailer here said Friday. Price deflation, changing consumer buying habits and a slower ramp-up of new stores brought on by the economic downturn impacted results. Overall sales increased 4.5% to $841 million, comps excluding gasoline increased by 0.8%. Net earnings fell from $11.1 million to $6 million. “Given the extended ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess 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’sFREE, easy and quick. What are you waiting for!In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.