Ingles Trims Capital Spending on New Stores for 2010

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.

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 the

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