Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Ingles Markets ( (IMKTA) ) has issued an update.
Ingles Markets, a leading grocer in the southeastern U.S., faces a financial hurdle as Hurricane Helene caused significant inventory and property losses estimated between $35 and $55 million. Fortunately, insurance may cover $10 to $15 million of this loss. Despite the setback, Ingles has managed to keep 194 of its 198 stores open, with plans to reopen the remaining four within the next nine months, showcasing resilience and a commitment to serving its communities.
See more insights into IMKTA stock on TipRanks’ Stock Analysis page.