Q1 profits, comps fall at Ingles
By Jon Springer
Ingles Markets on Monday said comparable-store sales decreased during the fiscal first quarter despite an increase in price investment that hurt profits.
“It was a very competitive holiday quarter with higher promotions and tighter margins in our market area,” Ronald Freeman, Ingles’ cheif financial officer, said in a conference call discussing results for the period, which ended Dec. 28.
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