ASHEVILLE, N.C. â€” Ingles Markets here said Monday that same-store sales for the third quarter, excluding gasoline and adjusted for Easter, were up, but net income was down because of refinancing activities, the economic slowdown and increased store-development costs.
For the three-month period that ended June 27, net income totaled $4.7 million, vs. $16 million in the year-ago quarter. The results included $10.2 million of prepayment penalties and loan-cost write-offs related to the company ...
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