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Since 1963, Ingles Markets, Inc. has been Western North Carolina's leading local supermarket, with over 200 retail locations across 6 southeastern states. Committed to old-fashioned values and progressive vision, Ingles is dedicated to meeting goals and serving communities.
Ingles Markets Inc is a U.S.-based company operating a supermarket chain primarily in the southeast United States. With stores in Georgia, North Carolina, South Carolina, Tennessee, Virginia, and Alabama, Ingles offers a wide range of goods from food products to general merchandise. The company's real estate ownership contributes significantly to its revenue through rental income.
Ingles Markets, Incorporated (NASDAQ: IMKTA) announced a cash dividend of
Ingles operates 198 supermarkets across six southeastern states, headquartered in
Ingles Markets, Incorporated (NASDAQ: IMKTA) reported strong financial results for the first quarter of fiscal 2023, ending December 24, 2022. Net sales reached $1.49 billion, a 7.3% increase from the previous year. Gross profit was $371.2 million, or 24.9% of sales, slightly down from 25.2% the prior year. Net income grew to $69.4 million, from $66.2 million, with earnings per share rising to $3.73. Operating expenses increased to $276.2 million, and capital expenditures surged to $59.3 million. The company maintained a solid debt position with $564.5 million total debt and no borrowings on its credit line.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share for Class A and $0.15 per share for Class B Common Stock, amounting to annual rates of $0.66 and $0.60, respectively. The dividends are payable on January 12, 2023, to shareholders of record as of January 6, 2023. Ingles operates 198 supermarkets across six southeastern states and owns a fluid dairy facility.
Ingles Markets (NASDAQ: IMKTA) reported solid financial results for Q4 and the fiscal year ended September 24, 2022, with net sales of $1.45 billion for Q4, up from $1.34 billion in the prior year. Comparable store sales rose 5.2% in Q4 and 7.7% for the fiscal year, driving annual sales to $5.68 billion. Net income for Q4 was $70.2 million, slightly down from $71.7 million year-over-year, while annual net income rose to $272.8 million. Gross profit margins decreased slightly year-over-year.
Overall, the company continues to focus on affordable offerings for customers.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share for Class A Common Stock and $0.15 per share for Class B Common Stock. This translates to an annual rate of $0.66 for Class A and $0.60 for Class B. The dividends are payable on October 13, 2022, to shareholders of record as of October 6, 2022. The company operates 198 supermarkets across six southeastern states and also manages neighborhood shopping centers and a fluid dairy facility.
Ingles Markets (NASDAQ: IMKTA) reported net sales of $1.46 billion for Q3 2022, up from $1.28 billion in Q3 2021, despite inflationary pressures. Gross profit for Q3 was $351.9 million, or 24.1% of sales, down from 26.4% a year prior. Net income decreased to $67.8 million, down from $72 million, while EPS for Class A shares fell to $3.65 from $3.88. For the nine months ended June 25, 2022, net sales reached $4.23 billion with a net income of $202.6 million, compared to $178 million in the same period last year. The company expects capital expenditures between $100 million and $120 million for the year.
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