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Ingles Markets ( (IMKTA) ) just unveiled an update.
For the first quarter of fiscal 2025, Ingles Markets reported a notable decline in net sales and profits, heavily impacted by Hurricane Helene which caused significant disruptions in western North Carolina. The hurricane resulted in store closures and infrastructure damage, contributing to a decrease in net income to $16.6 million from $43.4 million the previous year, with estimated revenue losses between $55 to $65 million due to the storm’s aftermath.
More about Ingles Markets
Ingles Markets, Incorporated is a leading grocery retailer operating 198 supermarkets across six southeastern states in the United States. The company, headquartered in Asheville, North Carolina, also manages neighborhood shopping centers and owns a fluid dairy facility supporting its supermarkets and unaffiliated customers.
YTD Price Performance: 4.98%
Average Trading Volume: 120,531
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.25B
For a thorough assessment of IMKTA stock, go to TipRanks’ Stock Analysis page.
