ASHEVILLE, N.C. — Ingles Markets here said last week that fourth-quarter same-store sales rose 7.8%, excluding gas, but an aggressive development schedule and an effort to keep retail prices low put pressure on profit margins.
For the period, which ended Sept. 27, net income fell about 26%, to $10.5 million.
Operating expenses totaled $165 million in the most recent quarter, compared with $146.3 million for the year-ago period. Increases in personnel costs, depreciation and promotional ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
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.
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? Log In