ASHEVILLE, N.C. — Ingles Markets here said the weak economy has led the company to ratchet back its spending outlook for the current year. In a conference call with analysts last week discussing third-quarter results, Ingles said it has spent only $65.3 million in the first nine months of the current year, vs. $390 million over the previous two years, when the company opened or redeveloped 22 locations. “Economic conditions have resulted in a longer ramp-up time for these 2008 and 2009 ...
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.