Ingles Markets, Incorporated Reports Update on the Impact of Hurricane Helene
Ingles Markets (NASDAQ: IMKTA) has reported on the impact of Hurricane Helene on its operations. The hurricane has caused significant flooding, property damage, and ongoing power and water outages across the company's operational footprint. Out of Ingles' 198 stores, 186 are currently open, but many face transaction limitations due to internet and connectivity issues. The remaining closed stores are expected to reopen once power is restored, though no specific timeline is available.
The company expressed sympathy for community members affected by the hurricane. Ingles Markets operates in six southeastern states, with headquarters in Asheville, North Carolina. The company's operations include supermarkets, neighborhood shopping centers, and a fluid dairy facility serving both Ingles supermarkets and external customers.
Ingles Markets (NASDAQ: IMKTA) ha riportato l'impatto dell'uragano Helene sulle sue operazioni. L'uragano ha causato significative alluvioni, danni alle proprietà e interruzioni di corrente e acqua in tutto il territorio operativo dell'azienda. Dei 198 negozi di Ingles, 186 sono attualmente aperti, ma molti affrontano limitazioni nelle transazioni a causa di problemi di internet e connettività. I negozi chiusi sono previsti per riaprire una volta ripristinata l'energia, anche se non è disponibile un cronoprogramma specifico.
L'azienda ha espresso solidarietà per i membri della comunità colpiti dall'uragano. Ingles Markets opera in sei stati del sud-est, con sede ad Asheville, nella Carolina del Nord. Le operazioni dell'azienda includono supermercati, centri commerciali di quartiere e un impianto lattiero-industriale che serve sia i supermercati Ingles che clienti esterni.
Ingles Markets (NASDAQ: IMKTA) ha informado sobre el impacto del huracán Helene en sus operaciones. El huracán ha causado inundaciones significativas, daños a la propiedad y cortes continuos de energía y agua en toda la huella operativa de la empresa. De las 198 tiendas de Ingles, 186 están abiertas actualmente, pero muchas enfrentan limitaciones en las transacciones debido a problemas de internet y conectividad. Se espera que las tiendas cerradas reabran una vez que se restablezca la energía, aunque no hay un cronograma específico disponible.
La empresa expresó su simpatía por los miembros de la comunidad afectados por el huracán. Ingles Markets opera en seis estados del sureste, con sede en Asheville, Carolina del Norte. Las operaciones de la empresa incluyen supermercados, centros comerciales de vecindario y una instalación láctea que atiende tanto a los supermercados Ingles como a clientes externos.
잉글스 마켓(상장 코드: IMKTA)은 허리케인 헬렌이 운영에 미친 영향을 보고했습니다. 이번 허리케인으로 인해 심각한 홍수, 재산 피해, 그리고 회사의 운영 지역 전반에 걸치는 지속적인 전기 및 물 공급 중단이 발생했습니다. 잉글스의 198개 매장 중 186개는 현재 영업 중이지만, 많은 매장에서 인터넷 및 연결 문제로 인해 거래에 제한이 있습니다. 나머지 폐쇄된 매장은 전력이 복구되면 재개장할 것으로 예상되지만, 구체적인 일정은 아직 없습니다.
회사는 허리케인으로 영향을 받은 지역 사회 구성원들에게 심정을 표명했습니다. 잉글스 마켓은 여섯 개 남동부 주에서 운영되며, 본사는 노스캐롤라이나주 아슈빌에 있습니다. 회사의 운영에는 슈퍼마켓, 이웃 쇼핑 센터, 그리고 잉글스 슈퍼마켓과 외부 고객을 위한 유동 유제품 시설이 포함됩니다.
Ingles Markets (NASDAQ: IMKTA) a rapporté l'impact de l'ouragan Helene sur ses opérations. L'ouragan a causé des inondations importantes, des dommages matériels, ainsi que des coupures continues d'électricité et d'eau dans toute la zone d'opération de l'entreprise. Parmi les 198 magasins d'Ingles, 186 sont actuellement ouverts, mais beaucoup rencontrent des limitations de transactions en raison de problèmes d'internet et de connectivité. Les autres magasins fermés devraient rouvrir une fois l'électricité rétablie, bien qu'aucun calendrier spécifique ne soit disponible.
L'entreprise a exprimé sa sympathie pour les membres de la communauté touchés par l'ouragan. Ingles Markets opère dans six États du sud-est, avec son siège à Asheville, en Caroline du Nord. Les opérations de l'entreprise comprennent des supermarchés, des centres commerciaux de voisinage et une installation laitière fluide qui sert à la fois les supermarchés Ingles et les clients externes.
Ingles Markets (NASDAQ: IMKTA) hat über die Auswirkungen des Hurrikans Helene auf seine Betriebe berichtet. Der Hurrikan hat erhebliche Überschwemmungen, Sachschäden sowie anhaltende Strom- und Wasserausfälle in der Betriebsregion des Unternehmens verursacht. Von den 198 Geschäften von Ingles sind derzeit 186 geöffnet, aber viele sehen sich aufgrund von Internet- und Konnektivitätsproblemen Einschränkungen bei Transaktionen gegenüber. Die verbleibenden geschlossenen Geschäfte sollen wiedereröffnet werden, sobald der Strom wiederhergestellt ist, obwohl kein konkreter Zeitrahmen vorliegt.
Das Unternehmen drückte sein Mitgefühl für die von dem Hurrikan betroffenen Gemeindemitglieder aus. Ingles Markets ist in sechs Bundesstaaten im Südosten tätig und hat seinen Hauptsitz in Asheville, North Carolina. Zu den Geschäftsbereichen des Unternehmens gehören Supermärkte, Nachbarschaftseinkaufszentren und eine flüssige Molkereianlage, die sowohl die Supermärkte von Ingles als auch externe Kunden bedient.
- 186 out of 198 stores remain open despite hurricane impact
- Expectation that all closed stores will reopen upon power restoration
- Hurricane Helene has disrupted store and distribution center operations
- Lack of internet access and connectivity limiting transactions in many locations
- Uncertain timeline for power restoration and full operational recovery
Insights
The impact of Hurricane Helene on Ingles Markets is significant, affecting both store operations and distribution. With 12 stores currently closed and functionality in many others due to connectivity issues, this will likely result in a short-term revenue decline for the company.
The lack of a clear timeline for power restoration adds uncertainty to the recovery process. However, Ingles' strong regional presence (198 stores in six southeastern states) may help mitigate some of the impact, as unaffected areas could potentially offset losses.
Investors should monitor the situation closely, particularly focusing on:
- The speed of store reopenings and full operational recovery
- Any potential inventory losses due to power outages
- Insurance coverage for damages and business interruption
- Possible increased costs for repairs and restocking
While natural disasters can cause short-term disruptions, Ingles' established market position and diversified operations across multiple states may provide some resilience. The company's ability to quickly restore operations will be important in minimizing the financial impact of this event.
The hurricane's impact on Ingles Markets reveals vulnerabilities in the company's operational infrastructure, particularly in terms of connectivity and power dependence. This event highlights the need for:
- Improved disaster preparedness and business continuity planning
- Investment in backup power systems and alternative connectivity solutions
- Potential geographical diversification to reduce regional risk exposure
From a market perspective, this disruption may temporarily benefit competitors in affected areas who remain operational. However, Ingles' quick response in reopening 186 out of 198 stores demonstrates operational agility.
Long-term implications could include:
- Increased capital expenditure on infrastructure resilience
- Potential market share fluctuations in heavily impacted areas
- Reassessment of supply chain and distribution strategies
Investors should consider how Ingles' response to this crisis compares to industry peers, as it may indicate the company's overall adaptability and risk management capabilities in the face of future challenges.
Currently, of our 198 stores, 186 stores are open for business, but a lack of internet access and other connectivity has limited transactions in many locations. Of the locations that remain closed, we expect all will reopen upon restoration of power to their respective areas, but we do not have a timeline for power restoration.
About Ingles Markets, Incorporated
Ingles Markets, Incorporated is a leading grocer with operations in six southeastern states. Headquartered in
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “anticipate,” “aim,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and the negative of these terms, and similar references to future periods. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to, among other things: business and economic conditions generally in the Company’s operating area, including inflation or deflation; shortages of labor, distribution capacity, and some product shortages; inflation in food, labor and gasoline prices; the impact of weather-related events and natural disasters; the Company’s ability to successfully implement our expansion and operating strategies; pricing pressures and other competitive factors, including online-based procurement of products the Company sells; sudden or significant changes in the availability of gasoline and retail gasoline prices; the maturation of new and expanded stores; general concerns about food safety; the Company’s ability to manage technology and data security; the availability and terms of financing; and increases in costs, including food, utilities, labor and other goods and services significant to the Company’s operations. Detailed information about these factors and additional important factors can be found in the documents that the Company files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. The Company does not undertake an obligation to update forward-looking information, except to the extent required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241003816393/en/
Ingles Markets, Inc.
Pat Jackson, Chief Financial Officer
pjackson@ingles-markets.com
(828) 669-2941 (Ext. 223)
Source: Ingles Markets, Incorporated
FAQ
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