Gas deflation leads to 4Q sales decline at Ingles

Gas deflation leads to 4Q sales decline at Ingles

Despite strong sales in core grocery products, Ingles Markets on Thursday said overall sales declined as a result of a significantly lower gas prices in the fourth quarter.

Higher expenses including lapping a one-time tax benefit in the year-ago period in the meantime triggered a 8% decline in net earnings, the Asheville, N.C., retailer said.

For the period, which ended Sept. 26, sales totaled $952.8 million,

Register to view the full article

TAGS: News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish