Ingles Markets, Incorporated reported a decline in financial performance for the fiscal year ending September 27, 2025, with total net sales of $5.33 billion, down from $5.64 billion in the previous year. The company's net income also decreased to $83.6 million, compared to $105.5 million in the prior fiscal year. This decline was significantly influenced by the impact of Hurricane Helene, which caused substantial operational disruptions, including an estimated loss of $55 to $65 million in revenue due to store closures and electronic payment issues. The company recognized impairment losses of $30.4 million related to inventory and $4.5 million for property and equipment due to the hurricane.
Ingles operates 194 supermarkets across six states, including North Carolina, Georgia, and South Carolina. The company experienced a decrease in comparable store sales, which fell by 1.7% for the fiscal year, with a notable 4.2% drop in the number of transactions. The grocery segment, which includes dairy and frozen foods, reported sales of $1.93 billion, down from $1.98 billion the previous year. The company also faced challenges in its fuel sales, which decreased by 14.3% due to lower fuel prices and reduced gallons sold.
Strategically, Ingles has focused on modernizing its store base and enhancing customer service. The company operates 112 in-store pharmacies and 106 fuel stations, with plans to continue incorporating these services in future store developments. Despite the setbacks from Hurricane Helene, Ingles aims to reopen the three temporarily closed stores by 2026 or 2027. The company has also invested in technology improvements and store renovations to adapt to changing consumer preferences, including online ordering and home delivery options.
As of September 27, 2025, Ingles employed approximately 25,551 associates, with 92% working in supermarkets. The company has been actively addressing labor shortages and increasing recruitment efforts in response to a tight labor market. Looking ahead, Ingles anticipates ongoing challenges from competitive pressures in the supermarket industry, economic conditions affecting consumer behavior, and the need for continued investment in store modernization. The company expects to allocate between $120 to $140 million for capital expenditures in fiscal year 2026, focusing on store improvements and technology upgrades.
About INGLES MARKETS INC
Ingles Markets, Inc. is a regional supermarket chain in the southeastern U.S., operating nearly 200 stores offering groceries, perishables, non-food items, fuel, and pharmacies. It emphasizes customer service, store modernization, local sourcing, private labels, and convenience services like online ordering and curbside pickup. The company owns extensive real estate and distribution facilities, focusing on community-based growth and competitive pricing in a highly competitive industry.
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