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Ingles Markets, Inc. (stylized as ingles) is an American supermarket chain based in Black Mountain, North Carolina.[3] As of September 2021, the company operates 198 supermarkets in the Appalachian region of the Southeastern United States. The company is listed on the NASDAQ under the ticker symbol IMKTA and is part of the Global Select Market tier of trading.[1]

Key Information

As an adjunct to its supermarket business, Ingles owns and operates shopping centers, gas stations and a milk processing plant.[1]

History

[edit]
Ingles' classic store design in downtown Franklin, N.C.

The first Ingles store was opened by second-generation grocer Robert P. Ingle in 1963 and is located in Asheville, North Carolina.[4][5] Ingle had worked in his uncle's store since he was five years old and was unable to convince his father to build a large store. The younger Ingle had a vision of 4000 square feet. When Elmer Ingle died in the 1950s, Robert Ingle sold the store because his mother could not run it. Seven years later at age 29, Ingle decided to build a new 10,000-square-foot store. He would have to compete with larger chains and with independent stores that used cooperative distributors.[6]

To start his business, Ingle joined with his mother and sister, and they used all of their savings and a mortgage on the house. The first store opened on Hendersonville Road. In one year, that store was expanded, and in another year, a second location opened on Patton Avenue. Ingles was incorporated in 1965 in the state of North Carolina.[1] In 1967, the company bought six Colonial supermarkets.[6]

In 1982, Ingles purchased a milk processing plant from Sealtest, which it operates as Milkco Inc., a wholly owned subsidiary.[7] Two-thirds of Milkco's business, which was later expanded beyond dairy to include products such as citrus, tea, and bottled water, is from food service distributors, grocery warehouses, and independent specialty retailers located in 17 states as of 2010.[8] Ingles became a publicly traded company in 1987.[1]

Ingles fuel pumps
Aerial photo of an Ingles store and gas station in Hayesville, N.C.

In the summer of 1996, the chain debuted its modern large-format store design, starting with its location in Dacula, Georgia.[9] In the 2000s, the chain started building "Ingles Gas Express" gas stations with many of its newer stores.[citation needed] 107 of 198 locations now have fuel stations.[1]

In February 2005, Ingles Markets announced it would restate financial statements for fiscal years 2002 and 2003 and the first three quarters of 2004, to correct the accounting for vendor allowances and certain other items.[10] The restatement was a significant factor in the U.S. Securities and Exchange Commission (SEC) issuing a Wells notice to the firm in January 2006, indicating that it might bring an enforcement action against it.[11] A settlement was reached with the SEC in April 2006 that did not require payment of a monetary penalty.[12]

Following the death of Robert Ingle on March 6, 2011, his son Robert P. Ingle II became CEO.[13]

In December 2012 and December 2013, the company collaborated with Eblen Charities' St. Nicholas Project on what they called "Ingles Toy Store," offering "toys, games, clothes and stocking stuffers" to needy North Carolina families.[14]

In July 2021, Ingles collaborated with Creating A Family.[15]

In September 2024, Ingles was severely impaired by flooding from Hurricane Helene. The company's distribution center in Swannanoa was surrounded by water from the adjacent Swannanoa River. That and the closure of major highways throughout western North Carolina led to shortages on store shelves.[16] The chain's credit card transactions are handled at its Asheville-area headquarters, which was flooded, causing all stores in the chain to accept only cash and check payments for days. Some stores without power and water temporarily closed, hampering rural communities with only one supermarket at a time when clean water and food was sorely needed.[17][18] Lines formed outside other stores as staff allowed, in some cases, only five shoppers inside at a time.[19][20] The storm caused $4.5 million in damage to the company's equipment and property. An additional $30.4 million worth of Ingles inventory was damaged or destroyed.[21]

Operations

[edit]

Ingles owns 163 of its 198 supermarkets either as free-standing locations or in shopping centers where it is the anchor tenant. The remaining 35 locations are leased from various unaffiliated third parties.[1] The company also owns 23 undeveloped sites which are suitable for a free-standing store or shopping center development.[1] The company owns numerous outparcels and other acreage located adjacent to the shopping centers and supermarkets it owns. Real estate owned by the company is generally located in the same geographic regions as its supermarkets.[1] Ingles also operates 111 pharmacies and 107 gas stations at select retail locations.[1] As of 2023, Ingles had a workforce of approximately 25,000 associates.[1]

The produce area inside Ingles Store #25 in Murphy, N.C.

Ingles also owns and operates nine supermarkets under the name “Sav-Mor” with the other 189 locations being Ingles Markets. The Sav-Mor store concept accommodates smaller shopping areas and carries dry groceries, dairy, fresh meat and produce, all of which are displayed in a modern, readily accessible environment.[1]

Substantially all of Ingles' stores are located within 280 miles (450 km) of its warehouse and distribution facilities, near Asheville, North Carolina. The company operates 1.65 million square feet of warehouse and distribution facilities. These facilities supply the company’s supermarkets with approximately 62% of the goods the company sells. The remaining 38% is purchased from third parties and is generally delivered directly to the stores. The proximity of the company’s purchasing and distribution operations to its stores facilitates the timely distribution of consistently high quality perishable and non-perishable items.[1]

The company owns a 1,649,000 square foot facility, which is strategically located between Interstate 40 and Highway 70 near Asheville, North Carolina, as well as the 119 acres of land on which it is situated. The facility includes the company’s headquarters and its warehouse and distribution facility. The property also includes truck servicing and fuel storage facilities. The company also owns a 139,000 square foot warehouse on 21 acres of land approximately one mile from its main warehouse and distribution facility.[1] Goods from the warehouse and distribution facilities and the milk processing and packaging plant are distributed to the company’s stores by a fleet of 193 tractors and 751 trailers that the company owns, operates and maintains.[1]

Locations

[edit]

Ingles operates 198 stores in six southeastern states:[1]

They also operate 9 Sav-mor Foods locations in North Carolina, South Carolina and Tennessee.[22]

Private label brands

[edit]

Ingles sells products with the Laura Lynn brand, named for Ingle's daughter Laura Lynn, now Laura Ingle Sharp. She worked in advertising for the chain starting in the 1970s and has been a member of the board of directors since 1997.[23] The chain sells natural and organic products under the Harvest Farms label.[24] A few other products are sold with the Ingles Best label. The brand of generic pharmacy products sold, Quality Choice, is not a brand exclusive to Ingles Markets.

Competition

[edit]

Local and regional competitors include Food City, Food Lion, Harris Teeter, Harveys, Target, Aldi, Lidl, Walmart, Kroger, Lowes Foods, Publix, and United Grocery Outlet.[25]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Ingles

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from Grokipedia
Ingles Markets, Incorporated (stylized as Ingles) is an American regional chain headquartered in , operating 197 stores across six southeastern states including , Georgia, , , , and . Founded in 1963 by Robert Ingle, the company began with its first store on Hendersonville Road in , and has since grown into a publicly traded entity with annual sales of $5.6 billion in 2024. The company's expansion focused on smaller towns and rural communities, starting in North and South Carolina before extending into neighboring states. Key milestones include the 1982 acquisition of Milkco, Inc., a milk processing facility that produces over 60 million gallons annually and supplies , fruit juices, and to retailers; the 1987 listing on under the ticker IMKTA; and the development of a self-distribution center in Asheville to serve stores within a 250-mile radius. Ingles owns two-thirds of its store real estate and emphasizes private-label products, such as the Laura Lynn brand, named after the founder's daughter. In addition to traditional grocery offerings like , , , and frozen foods, Ingles provides services with features such as free flu shots and centers at most locations. The company supports community initiatives through programs like Tools for Schools, which has donated over $18 million since 1998, and maintains customer loyalty via the Advantage Card for discounts and promotions. As a locally owned and operated business, Ingles prioritizes quality, convenience, and regional service in its operations.

Overview

Founding and Early Development

Ingles Markets was founded in 1963 by Robert P. Ingle in , where he opened the company's first supermarket on Hendersonville Road. As a second-generation grocer, Ingle drew from his family's longstanding involvement in the retail food business; his father, Elmer Ingle, operated small grocery stores in the Asheville area starting in the late 1920s, providing Robert with early exposure to the industry from childhood. The initial store, approximately 10,000 square feet in size, was financed through Ingle's personal savings, loans, and a on his mother's home, reflecting a pooling of family resources to launch the venture amid from local bankers who doubted success in Asheville's competitive grocery market. For merchandise sourcing, the new business partnered with wholesaler Merchant Distributors, Inc. (MDI), enabling efficient supply chain access from the outset. From its inception, Ingles adopted a strategy targeted at smaller towns and rural communities in , prioritizing competitive pricing, extended operating hours including Sundays and holidays, and a focus on fresh produce to attract underserved customers. The first store also laid the foundation for the company's enduring commitment to community investment and local sourcing, with Ingle and his wife personally staffing operations and emphasizing ties to regional suppliers and residents.

Headquarters and Corporate Structure

Ingles Markets, Inc. maintains its corporate headquarters at 2913 US Highway 70 West in , a location that has served as the central hub since the 1980s. This facility encompasses executive offices, administrative functions, and key distribution operations, supporting the company's regional network across the Southeast. The site's strategic positioning near Asheville facilitates efficient oversight of logistics and activities. As a publicly traded entity on the Global Select Market under the IMKTA since 1987, Ingles operates within a characterized by strong family influence from the founding Ingle family. The company remains under multi-generational family control, with the second generation prominently involved in as of 2024. Ownership is concentrated through Ingle family trusts and related entities, which hold approximately 72.5% of the combined voting power of all classes of capital stock, according to the most recent SEC filings. This dual-class share structure—Class A with one vote per share and Class B with ten votes per share—ensures family dominance in strategic decisions while allowing public investment. Leadership is anchored by Chairman Robert P. Ingle II, who succeeded his father, , and has guided the company since 2011, emphasizing continuity in family values and operational focus. The President and role is held by James W. Lanning, appointed in 2016, bringing operational expertise to day-to-day management. The , comprising eight members, balances family representation—including Ingle II and director Laura Ingle Sharp—with independent directors such as Brenda S. Tudor and R. David Hoover, fostering oversight on governance, audit, and compensation committees. This composition underscores a blend of familial and external . Key subsidiaries bolster the corporate framework, including Milkco, Inc., a wholly owned entity acquired in 1982 that handles milk processing and to supply Ingles stores with products. Real estate operations are managed through subsidiaries like Ingles Company Investments, Inc., which oversees property holdings integral to store development and leasing. These entities enable while aligning with the company's emphasis on controlled expansion and asset management.

History

Origins and Initial Growth (1963–1980s)

Ingles Markets began its operations in 1963 when Robert P. Ingle opened the company's first supermarket in , targeting underserved rural and small-town markets in . The company pursued gradual expansion through the opening of new stores during the and , focusing on regional consolidation in the Appalachian area. By 1972, Ingles had grown to 16 stores, primarily in , reflecting a strategy of steady operational milestones amid local economic conditions. This period saw continued growth through a combination of new builds and selective acquisitions of local grocers to strengthen its footprint in Western North Carolina. To support this growth and reduce dependence on external wholesalers like Merchant Distributors, Inc., Ingles shifted toward self-distribution in the late 1970s by constructing a warehouse and distribution center near Asheville in 1978, which enabled better cost controls and supply chain efficiency for stores within a 250-mile radius. This move marked a key operational milestone, allowing the company to manage inventory and pricing more effectively in a competitive landscape dominated by larger chains such as Winn-Dixie, A&P, and Colonial Stores, which controlled over 90% of regional food sales. In the late 1970s, Ingles initiated its first out-of-state expansion by entering , extending its model of community-focused retailing to adjacent markets. The company navigated regional challenges, including economic downturns in the Appalachians driven by declining traditional industries like and , which contributed to slower income growth and population outmigration during the 1960s and 1970s. In response, Ingles emphasized value pricing strategies to maintain affordability and prioritized local employment to foster community ties, helping to sustain operations in economically distressed areas. A significant step in came in 1982 with the acquisition of Sealtest's milk processing plant in Asheville, rebranded as Milkco, Inc., a wholly owned subsidiary that began producing private-label dairy products and reduced reliance on third-party suppliers.

Expansion and Modern Era (1990s–Present)

In the 1990s, Ingles Markets accelerated its regional expansion through strategic acquisitions and new store developments, particularly in Georgia and . In 1989, the company opened 17 new stores to reach a total of 156 across , , Georgia, , and . In 1991, Ingles acquired 13 stores in Georgia and from Malone & Hyde, bolstering its footprint in the Southeast. This period also marked the company's entry into with its first store opening in 1994. Building on this momentum, Ingles solidified its presence in six Southeastern states—, , Georgia, , , and —by the mid-1990s, with further expansions in during the 2000s through additional store openings and renovations. The company maintained steady growth into the 2010s, focusing on rural and underserved markets, and achieved operations in approximately 200 stores by the early 2020s. Between 2022 and 2025, Ingles added a limited number of new locations, including replacement stores damaged by natural events like Hurricane Helene, while planning further developments such as a new supermarket in , approved in October 2025; as of September 2025, the chain operated 197 stores, with three temporarily closed due to Hurricane Helene and scheduled to reopen during 2025, amid ongoing efforts to reach around 200 through site acquisitions and modernizations. To adapt to evolving consumer preferences in the , Ingles launched digital services, including the iCurbside online ordering platform for curbside pickup, initially available at select stores and expanding to 129 locations by 2023; this service allowed customers to order groceries, items, and fuel online for convenient pickup. Partnerships for delivery were also integrated, enhancing in rural areas. During the from 2020 to 2022, Ingles implemented enhanced sanitation protocols, such as increased cleaning frequencies and measures in stores, while strengthening through diversified sourcing—57% of inventory from company warehouses and 43% from third-party vendors—to address shortages and labor challenges. These adaptations contributed to sustained sales growth, with net sales rising from $4.99 billion in fiscal 2021 to $5.68 billion in fiscal 2022, driven by higher customer traffic and essential goods demand.

Business Operations

Retail Format and Customer Services

Ingles Markets operates supermarkets typically averaging 57,600 square feet in total space, as of 2024, designed to provide a comprehensive one-stop experience. These stores feature dedicated departments for fresh produce sourced from local and global suppliers, USDA Choice or higher beef cut in-house by full-service butchers, in-store bakeries offering custom cakes and artisan breads, delis with prepared foods such as and salads, and integrated pharmacies. Floral departments provide fresh arrangements, bouquets, and plants, enhancing the in-store ambiance and convenience for customers. A core element of is the Ingles Advantage™ Savings and Rewards Card, launched in 2003, which enables shoppers to access digital coupons, accumulate fuel points, and receive personalized discounts on thousands of items. The program integrates with the company's app for easy management of rewards and weekly notifications on sale items, fostering loyalty through tailored savings opportunities. In-store services emphasize convenience and freshness, including prepared foods from the deli for ready-to-eat meals and party platters, as well as floral services for custom arrangements. Select locations feature Ingles Gas Express fuel centers, introduced starting in fiscal 2000, allowing customers to combine grocery shopping with discounted fueling based on points. Ingles Markets prioritizes local sourcing through partnerships with regional farmers and producers, particularly for produce like seasonal berries and tomatoes, and meats such as and from nearby operations like Hickory Nut Gap Meats. This approach supports community agriculture and ensures fresher items in stores across the Southeast. Pharmacy operations at 114 locations offer integrated health services, including prescription fulfillment and a range of vaccinations such as flu and shots, positioning them as essential hubs. Customers can schedule appointments online or receive immunizations while shopping, differentiating Ingles through accessible healthcare alongside grocery needs.

Supply Chain and Subsidiaries

Ingles Markets maintains a centralized centered on its primary distribution facility in , near Asheville. This 1.65 million square foot warehouse serves as the hub for grocery, perishable, frozen, and general merchandise distribution, handling approximately 58% of the company's overall inventory needs while the remaining 42% arrives via direct third-party deliveries to stores. The facility supports over 200 retail locations within a 250-mile radius, processing more than 2 million cases weekly across its operations. However, the facility sustained significant flood damage from Hurricane Helene in September , leading to operational disruptions and financial losses, with recovery efforts ongoing into 2025. A key subsidiary, , was acquired by Ingles in 1982 from Sealtest and operates a milk processing and packaging plant in . supplies most of the fluid sold in Ingles supermarkets and distributes dairy products, including brands, to third-party retailers across 10 states, with annual production exceeding 60 million gallons. Ingles also manages real estate through its property holdings subsidiary, which oversees ownership of 175 out of 198 supermarkets as of fiscal year 2024 (approximately 88%), representing over 90% of store locations in prior years, along with 29 undeveloped sites and additional commercial properties totaling 9.3 million square feet. As of June 2025, the company operates 197 supermarkets following temporary closures related to Hurricane Helene. Complementing this, the company's operations include a fleet of 182 tractors and 842 trailers that enable self-distribution to all retail outlets seven days a week. Sustainability efforts within the supply chain focus on waste reduction and resource efficiency, including the recycling of packaging materials and wooden pallets at the distribution center, promotion of reusable shopping bags in stores, and collaboration with vendors to minimize packaging size while prioritizing recyclable and biodegradable options. Ingles further integrates energy-efficient equipment in its warehousing and transportation systems to lower environmental impact. Technology supports supply chain efficiency through advanced logistical systems for fleet scheduling, routing, and backhaul optimization, ensuring timely deliveries across the network.

Geographic Presence

Operating Regions and States

Ingles Markets, Incorporated operates exclusively within the , maintaining a presence in six states: , , Georgia, , , and . This regional footprint emphasizes markets in the Appalachian and surrounding areas, aligning with the company's to serve communities underserved by larger national chains. North Carolina represents the core market for Ingles, where the company maintains its highest concentration of operations, particularly in the western portion of the state around Asheville, its headquarters location. Operations extend into , featuring dense market penetration in areas like Greenville and Spartanburg, which benefit from proximity to the base. Strategic expansions have targeted Appalachian regions of and Georgia, focusing on smaller towns and rural communities to capitalize on local demand while minimizing direct competition from urban-focused retailers. The company deliberately avoids major metropolitan centers, such as and Charlotte, prioritizing suburban and rural locales to foster community loyalty and operational efficiency. To address varying regional preferences, Ingles tailors its product assortments across states, incorporating local and seasonal items that reflect cultural tastes; for instance, Georgia locations emphasize Southern cuisine staples like collard greens and cornbread mixes to appeal to area consumers. This adaptation supports the company's focus on fresh perishables and community-specific offerings, enhancing relevance in diverse Southeastern markets. As of 2025, Ingles conducts no international operations, with all activities confined to these domestic Southeastern states.

Store Distribution and Formats

Ingles Markets operates approximately 198 supermarkets across six southeastern states as of September 2024. The chain's store distribution is heavily concentrated in , with 75 locations (approximately 38%), followed by Georgia with 65 (33%); has 35 (18%), 21 (11%), and one each in and . Note that as of late 2025, several stores in remain temporarily closed due to damage from Hurricane Helene in September 2024, with reopenings expected in 2026. The company's stores primarily follow a standard supermarket format, accounting for about 80% of its portfolio, which emphasizes a broad range of grocery, fresh produce, and household essentials in layouts designed for efficient one-stop shopping. Approximately 15% of stores adopt a larger format, incorporating expanded non-food sections such as apparel, home goods, and seasonal merchandise to attract families and higher-volume shoppers. The remaining 5% consist of smaller convenience-oriented formats, often located in rural or underserved areas, offering quick-access staples, snacks, and basic groceries under banners like Sav-Mor to serve local communities with limited options. In recent years, Ingles has focused on remodeling and rebuilding existing stores rather than major new expansions. The company owns approximately 88% of its store properties, allowing for customized construction and renovations; the average new or remodeled store spans about 75,000 square feet to optimize space for both core grocery operations and ancillary services. Enhancing accessibility across its network, all Ingles stores have been equipped for curbside pickup since 2020, enabling customers to order online and collect groceries without entering the premises—a service that expanded rapidly in response to pandemic-era demands and remains a key feature for convenience.

Products and Brands

Private Label Offerings

Ingles Markets distinguishes itself through a portfolio of brands that offer quality alternatives to national products at lower prices, fostering customer loyalty and supporting competitive pricing strategies. The flagship brand, Laura Lynn, named after founder Ingle's daughter, encompasses everyday staples across multiple categories, including canned goods, soft drinks, items, and household essentials. Other brands include Ingles Best and Harvest Farms. These private labels span a broad product range, with stock-keeping units (SKUs) in groceries, dairy, bakery, and non-food items. Internal development emphasizes rigorous quality testing and regional customization, such as Southern-inspired flavors in sauces and seasonings. Milkco handles production of dairy products for private labels. Marketing efforts integrate private labels into in-store promotions, digital coupons, and the company's , which rewards repeat purchases and drives trial of these brands. Private label sales contribute significantly to , bolstering margins amid inflationary pressures. Recent innovations include the premium line Harvest Farms, a USDA-certified organic brand, alongside offerings in plant-based and gluten-free items. Milkco's role in producing private-label supports these efforts by ensuring fresh, regionally sourced options.

Core Product Categories and Innovations

Ingles Markets emphasizes a diverse assortment of fresh and perishable goods as central to its product offerings, with fresh produce forming a key category sourced from local farmers and global suppliers to ensure quality and variety. The produce department features a wide selection of fruits and vegetables, including organic options, and includes a preparation area for custom services such as coring pineapples or portioning watermelons. This focus on freshness aligns with the company's commitment to perishables, which encompass produce alongside other departments. The meat and seafood departments highlight premium quality standards, offering USDA Choice or Prime grade cut fresh in-store, along with organic and natural , , , and specialty items like . selections include sustainable options, emphasizing responsibly sourced products to meet consumer demands for ethical sourcing. The bakery and deli sections complement these with in-house of breads, including organic varieties such as and Tuscan loaves, as well as gluten-free items, alongside ready-to-eat deli preparations like , cheeses, salads, soups, and party platters made from high-quality ingredients. These categories underscore Ingles' to prioritize fresh, prepared foods that appeal to everyday shoppers seeking convenience and quality. Health and beauty products are integrated through in-store pharmacies, which provide prescription services, over-the-counter medications, , and personal care items, supporting customer wellness needs. Non-food categories round out the inventory with household essentials like cleaning supplies, basic apparel for families, seasonal goods such as holiday decorations, and other general merchandise including floral arrangements, alcoholic beverages, and products. These non-perishables constitute a supporting portion of the overall assortment, enhancing the one-stop experience. In response to evolving consumer trends, Ingles has innovated by expanding its organic selections across departments, offering thousands of certified organic items at competitive prices, including , meats, and bakery goods. The deli department's ready-to-eat options, such as meal kits and prepared salads, provide convenient solutions for busy households, while the company's platform, including curbside pickup and online ordering, facilitates access to bundled grocery selections tailored for health-focused and organic preferences. These initiatives reflect a broader emphasis on , natural products without artificial additives—like hormone-free from local farmers—and health-oriented assortments amid rising demand for nutritious, convenient foods.

Competition and Market Position

Key Competitors

Ingles Markets competes primarily in the grocery sector against several established chains that vary in scale, pricing strategies, and customer focus. Super Markets, known for its premium emphasis on , fresh produce, and bakery items, holds a strong position in , Georgia, and , where it operates over 1,400 stores with annual sales exceeding $59 billion. , a discount-oriented retailer under , focuses on value-driven offerings and maintains a significant footprint in , , and , with more than 1,100 stores nationwide and leading store counts in . , leveraging its model and extensive , dominates across all Ingles operating states through everyday low pricing and one-stop shopping, capturing the largest national grocery at approximately 21% as of 2025. Regional players like , an upscale chain owned by , compete in urban and suburban and markets with higher-end products and loyalty perks. Ingles differentiates itself through a rural niche, particularly in Appalachian communities across , , Georgia, and , where its geographic density and real estate ownership provide insulation from broader competition. This contrasts with Publix's urban and suburban strengths, where the latter excels in high-traffic areas with superior in-store experiences. Ingles positions itself with pricing that is generally lower than Publix's among traditional supermarkets in areas like , while offering more personalized service than Walmart's self-service model. In core markets such as and , Ingles maintains a notable presence with 67 stores in and 35 in , contributing to its overall network of approximately 198 locations across six states and annual sales of $5.64 billion for 2024. It trails regionally but leads in underserved rural and Appalachian segments, where competitors have less penetration. Rivalry intensifies in overlapping areas like Georgia and through promotional pricing and pharmacy services; Ingles' in-house pharmacies compete against integrated options at rivals, including Pharmacy and Pharmacy. To counter Walmart's everyday low pricing, Ingles utilizes its Advantage Card , which provides exclusive digital coupons, fuel points, and rewards like free flu shots to encourage repeat visits and build .

Financial Performance and Strategy

Ingles Markets, Incorporated reported net sales of $5.64 billion for 2024, ending September 28, 2024, representing a 4.2% decrease from $5.89 billion in fiscal 2023, primarily due to the impact of a 53rd week in the prior year, softer consumer demand, and disruptions from Hurricane Helene. Comparable store sales, excluding fuel, declined by 1.7% during the year, though channels contributed to overall digital sales growth amid broader industry shifts toward online grocery. Profitability faced headwinds in fiscal 2024, with totaling $105.5 million, a significant drop from $210.8 million in the previous year, reflecting higher operating costs and one-time weather-related expenses. EBITDA reached approximately $269 million, yielding a margin of 4.77%, sustained in part by efficiencies from products like Laura Lynn and Harvest Farms, which enhance gross margins through cost control and consumer appeal for value-oriented items. The company's Class A common stock (IMKTA) traded in the range of $72 to $74 per share as of early November 2025, reflecting relative stability bolstered by the Ingles family's majority ownership, which limits external volatility and supports long-term decision-making. Strategic initiatives included $210.9 million in capital expenditures for fiscal 2024, focused on acquiring land for 16 potential new sites and ongoing store remodels to improve customer experience. For fiscal 2025, planned capital outlays of $120 million to $160 million emphasize digital upgrades, such as enhanced online platforms, and store modernizations, alongside a consistent dividend policy paying $0.66 annually per Class A share, yielding approximately 0.9%. Looking ahead, Ingles Markets aims to open select new stores, including a prototype location in , while prioritizing through green initiatives like energy-efficient refrigeration and waste reduction in operations, and technology investments to bolster and through 2030.

References

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  42. https://www.citizen-times.com/story/news/local/2024/12/31/ingles-markets-reports-q4-loss-in-millions-of-dollars-after-helene/77316590007/
  43. https://progressivegrocer.com/ingles-markets-still-struggling
  44. https://www.ingles-markets.com/corporate/cg2/investor/financial-press-releases/ingles-markets-incorporated-reports-results-for-third-quarter-and-first-nine-months-of-fiscal-2025
  45. https://www.ingles-markets.com/corporate/cg1/main/sustainability
  46. https://www.sec.gov/Archives/edgar/data/50493/000119312503098040/d10k.htm
  47. https://www.ingles-markets.com/corporate/cg2/investor/financial-press-releases/ingles-markets-incorporated-declares-quarterly-cash-dividend-10
  48. https://pestel-analysis.com/blogs/how-it-works/ingles-markets
  49. https://pestel-analysis.com/blogs/marketing-strategy/ingles-markets
  50. https://www.ingles-markets.com/corporate/cg2/investor/financial-press-releases/ingles-markets-incorporated-reports-results-for-second-quarter-and-first-six-months-of-fiscal-2025
  51. https://seekingalpha.com/article/4833540-ingles-markets-imkta-stock-recovering-from-hurricane-buy
  52. https://www.supermarketnews.com/grocery-operations/ingles-introducing-larger-format
  53. https://www.jrvannoy.com/what-weve-done/ingles/
  54. https://www.businesswire.com/news/home/20210119005055/en/Ingles-Markets-Modernizes-Operations-and-Begins-Curbside-Pick-up-Service-for-its-Customers-with-Aruba
  55. https://smokymountainnews.com/news/item/39802-partner-content-nutrition-and-food-news
  56. https://www.ingles-markets.com/organic
  57. https://www.ingles-markets.com/wellness/wg2/nutrition/gluten-free-list
  58. https://www.globaldata.com/company-profile/ingles-markets-inc/
  59. https://www.mapquest.com/us/georgia/ingles-market-no-436-491835790
  60. https://retailtoday.h5mag.com/state_of_the_grocery_industry_2025/publix
  61. https://www.scrapehero.com/location-reports/top-grocery-chains-in-north-carolina-usa/
  62. https://www.statista.com/statistics/1450393/leading-grocery-store-by-market-share-us/
  63. https://www.insideradio.com/free/prospecting-walmart-captures-21-of-grocery-spending-numerator-says/article_a7970501-02dd-4b4f-99ab-d2140337cd16.html
  64. https://pitchbook.com/profiles/company/41039-11
  65. https://www.epigramcapital.com/journal/f9s7d7wx4griwtl8dym21ufjkigmj5-67jge
  66. https://avlwatchdog.org/which-asheville-grocery-store-has-the-best-prices/
  67. https://macrotrends.net/stocks/charts/IMKTA/ingles-markets/ebitda-margin
  68. https://www.gurufocus.com/news/3048222/decoding-ingles-markets-inc-imkta-a-strategic-swot-insight
  69. https://finance.yahoo.com/quote/IMKTA/history/
  70. https://www.nasdaq.com/market-activity/stocks/imkta/historical
  71. https://www.nasdaq.com/market-activity/stocks/imkta/dividend-history
  72. https://wlos.com/news/local/ingles-build-new-store-swannanoa-buncombe-county-planning-department-location-post-office-hardware-store-local-economy-food-grocery-commissioner-hurricane-helene
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