Welcome to our dedicated page for Ingles Markets news (Ticker: IMKTA), a resource for investors and traders seeking the latest updates and insights on Ingles Markets stock.
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 (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.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of
The company operates 198 supermarkets across six southeastern states and also runs neighborhood shopping centers and a fluid dairy facility.
Ingles Markets (NASDAQ: IMKTA) reported a strong financial performance for the second quarter and first half of fiscal 2022. Net sales increased by 16.3% to $1.38 billion in Q2, with net income rising to $68.6 million, up from $52.2 million a year earlier. Gross profit for Q2 was $348.6 million, representing 25.3% of sales. For the first half, net sales reached $2.77 billion, with net income of $134.8 million, marking an increase of 16.6% compared to the same period last year. Despite increased expenses, the company maintains a solid cash position with no borrowings on its credit line.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share on its Class A Common Stock and $0.15 on Class B Common Stock. This translates to an annual dividend rate of $0.66 for Class A and $0.60 for Class B. The dividends are payable on April 14, 2022, to shareholders of record as of April 7, 2022. Ingles operates 198 supermarkets across six southeastern states, alongside neighborhood shopping centers and a fluid dairy facility.
Ingles Markets announces the promotion of Patricia (Pat) E. Jackson to Chief Financial Officer (CFO), effective February 23, 2022. She succeeds Ronald B. Freeman, who retired after nearly 17 years. Pat joined Ingles in 2010 as Controller and previously served as CFO of Sisters of Mercy Services Corporation. As a licensed CPA with a Master’s in Accounting, her leadership is expected to bolster the company's financial strength. Chairman Robert P. Ingle II commended her effective leadership and sound judgment.
Ingles Markets (NASDAQ: IMKTA) reported a 16.9% increase in net sales for Q1 2022, reaching $1.39 billion, compared to $1.19 billion in Q1 2021. Net income rose to $66.2 million, up from $53.8 million year-over-year. However, gross profit margin declined to 25.2% from 26.4%, with expenses increasing due to higher personnel costs amid labor market challenges. Basic earnings per share rose to $3.57, up from $2.73. The company maintains a solid financial position with no borrowings on its $150 million credit line, ensuring liquidity for future needs.
Ingles Markets, Incorporated (NASDAQ: IMKTA) announced the retirement of its CFO, Ronald B. Freeman, effective February 16, 2022. Freeman has served as CFO for 17 years and will not seek re-election to the board of directors. Chairman Robert P. Ingle II expressed gratitude for Freeman's contributions and the company's strong financial standing under his leadership. Ingles Markets operates 198 supermarkets across six southeastern states, along with neighborhood shopping centers and a fluid dairy facility.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share on its Class A Common Stock and $0.15 per share on its Class B Common Stock, reflecting annual rates of $0.66 and $0.60, respectively. These dividends are payable on January 13, 2022, to shareholders of record on January 6, 2022. Headquartered in Asheville, North Carolina, Ingles operates 198 supermarkets across six southeastern states and also runs neighborhood shopping centers and a fluid dairy facility.
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