INGLES SALES RISE, MARGINS SQUEEZED

ASHEVILLE, N.C. -- Ingles Markets here said sales increased 7% during its fiscal second quarter, but gross profits were under pressure due to increased promotions and rising gasoline prices.Ingles, which operates 195 stores in six Southeastern states, said sales totaled $557 million during the three months ended March 26, and comparable-store sales grew by 6.3%. Ingles said a portion of the increase

ASHEVILLE, N.C. -- Ingles Markets here said sales increased 7% during its fiscal second quarter, but gross profits were under pressure due to increased promotions and rising gasoline prices.

Ingles, which operates 195 stores in six Southeastern states, said sales totaled $557 million during the three months ended March 26, and comparable-store sales grew by 6.3%. Ingles said a portion of the increase was due to the shift of the Easter holiday to the second quarter this year. Without a

Register to view the full article