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 a strong performance for the fourth quarter and fiscal year ended September 25, 2021, showing net sales of $1.34 billion, a rise of 11.6% year-over-year. Annual net sales reached $4.99 billion, increasing by 8.2%. Net income for Q4 increased to $71.7 million, with EPS for Class A shares at $3.86. For the fiscal year, net income climbed to $249.7 million, with Class A EPS of $13.06. However, operating expenses rose to $963.3 million, reflecting higher personnel costs. The company reduced its debt from $605.5 million to $589.5 million.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share on Class A Common Stock and $0.15 per share on Class B Common Stock, reflecting annual rates of $0.66 and $0.60, respectively. These dividends are payable on October 14, 2021, to shareholders of record as of October 7, 2021. The company operates 199 supermarkets across six southeastern states and also runs neighborhood shopping centers and a fluid dairy facility.
Ingles Markets (NASDAQ: IMKTA) reported Q3 net sales of $1.28 billion, up 7.4% year-over-year, and a net income of $72 million, a 14.5% increase. The gross profit was $337.5 million, representing 26.4% of sales. For the nine months ended June 26, 2021, net sales reached $3.65 billion, an increase of 7.0%, with net income of $178 million, up from $120.7 million in the prior year. Operating expenses rose due to increased labor costs. The company refinanced $350 million in senior notes, reducing interest expenses significantly.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share on Class A Common Stock and $0.15 per share on Class B Common Stock, translating to annual rates of $0.66 and $0.60 respectively. Dividends are payable on July 15, 2021, to shareholders of record by July 8, 2021. The company operates 198 supermarkets across six southeastern states and also has a fluid dairy facility supporting its operations.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has successfully closed a private offering of $350 million in 4.000% Senior Notes maturing in 2031. The proceeds will be utilized to fully redeem its existing 5.75% Senior Notes due 2023, repay outstanding credit facility balances, and cover related fees. The Notes are unregistered under the Securities Act and are not available for sale in the U.S. without proper registration or exemption. Forward-looking statements in the release highlight potential risks affecting anticipated results.
Ingles Markets, Inc. (NASDAQ: IMKTA) has announced a private offering of $350 million in 4.00% Senior Notes due 2031. The net proceeds will be used to redeem existing 5.75% Senior Notes due 2023, repay outstanding credit facilities, and cover related expenses. The offering is expected to close on June 17, 2021, pending customary closing conditions. The Notes will not be registered under U.S. securities laws and are offered only to qualified institutional buyers and certain non-U.S. persons.
Ingles Markets (NASDAQ: IMKTA) has announced a private offering of $350 million in senior unsecured notes due in 2031. The proceeds will be utilized to fully redeem its 5.75% Senior Notes due 2023, repay existing credit facility balances, and cover related expenses. This offering is restricted to qualified institutional buyers and specific non-U.S. individuals, and the notes will not be registered under the Securities Act. Forward-looking statements highlight possible risks and uncertainties that could affect results.
Ingles Markets, Incorporated (NASDAQ: IMKTA) reported a 3.4% increase in net sales, totaling $1.18 billion in Q2 2021, compared to $1.14 billion in Q2 2020. Gross profit rose to $310.5 million, representing 26.2% of sales. Net income increased to $52.2 million, with EPS of $2.65. For the first half, net sales reached $2.37 billion, a 6.8% rise from the previous year. While operating expenses increased to $475.0 million, interest expenses decreased significantly to $12.6 million. The company highlights the impact of COVID-19 on operations.
Ingles Markets (NASDAQ: IMKTA) is hosting an in-person hiring fair from May 11-13, 2023, for over 4,000 positions across its Retail Store and Distribution Center locations. The event aims to attract individuals reentering the workforce or seeking career changes, offering flexible scheduling and growth opportunities. Interested candidates can RSVP via Facebook or walk in with facial coverings and two forms of identification for on-the-spot interviews. Ingles operates 198 supermarkets across six southeastern states.
Ingles Markets (NASDAQ: IMKTA) is collaborating with the South Carolina DHEC and NAACP to offer COVID-19 vaccinations in Belton, SC. Scheduled for April 24 at Cedar Grove Baptist Church, the vaccination clinic will be open from 9 a.m. to 1 p.m. Chief Financial Officer Ron Freeman emphasizes the importance of this initiative in expanding vaccine access among South Carolinians. Dr. Linda Bell from DHEC highlights the clinic's role in addressing health disparities in underserved communities, especially among African Americans disproportionately affected by COVID-19.
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