ASHEVILLE, N.C. — Lower margins on rising gasoline prices and milder winter weather contributed to flat same-store sales and a dip in profits during the fiscal second quarter for Ingles Markets, the retailer here said Monday. Net sales for the 12-week quarter, which ended March 24 increased 1.3% to $881.7 million but were flat excluding gas. Non-fuel comparable store sales dipped by 0.1%. Net income declined 15.2% to $6.5 million as spiking gas prices resulted in lower fuel ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
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 a complimentary copy of SN's salary survey sent to you by email.
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.