Expenses for New Stores Sink Ingles' Q4 Profits

Officials of Ingles Markets here aren't regretting their building spree of recent years; they're just having to wait a little longer for the payoff. Higher expenses for new store development along with charges associated with debt retirement sent net income at Ingles down by 50.4% during the fiscal fourth quarter, which ended Sept. 26, the retailer here said last week. Net income of

ASHEVILLE, N.C. — Officials of Ingles Markets here aren't regretting their building spree of recent years; they're just having to wait a little longer for the payoff.

Higher expenses for new store development — along with charges associated with debt retirement — sent net income at Ingles down by 50.4% during the fiscal fourth quarter, which ended Sept. 26, the retailer here said last week.

Net income of $28.8 million for the fiscal year fell by 44.7%, mainly as a resul

Register to view the full article

Already a member? .