Ingles Markets

Ingles sells food and home items in Southeast supermarkets. Families buy groceries, medicine, and fuel at these stores. It also processes milk and rents shopping center space.

Fresh Food and Fuel

• Grocery Sales: Includes grocery, dairy, and frozen food products; part of the retail grocery segment.
• Perishables: Features fresh meat, produce, deli, and bakery items; part of the retail grocery segment.
• Non-Food Products: Operates pharmacies, fuel stations, and health and beauty sections; part of the retail grocery segment.
• Fluid Dairy: Processes and packages milk and juice for other retailers and food service distributors.
• Real Estate: Collects rent from 102 shopping centers operated in conjunction with supermarket locations.

Recovering and Rebuilding

• Invested $36.4 million during the first quarter of fiscal 2026 in technology and store improvements.
• Currently rebuilding three stores damaged by Hurricane Helene that are scheduled to reopen in 2026 and 2027.
• Upgrading the transportation fleet and warehouse equipment to improve the distribution of goods.
• Plans to spend between $120 million and $160 million on capital projects during the 2026 fiscal year.

Regional Roots and Real Estate

Ingles manages a vertically integrated supply chain by operating its own milk processing plant and a distribution center in North Carolina. The company also owns the majority of its shopping centers, which provides stable rental income and reduces occupancy costs.

Tracking the Numbers

• Net sales reached $1.37 billion in the first quarter of fiscal 2026, up 6.6% from the first quarter of fiscal 2025.
• Net income hit $28.1 million in the quarter ended December 27, 2025, up 69.6% year-over-year.
• Operating cash flow turned positive at $38.4 million in early fiscal 2026, compared to a loss of $43.6 million in early fiscal 2025.
• Gross profit hit $334.6 million in the first quarter of fiscal 2026, an 11.1% increase over the prior year period.
• Total debt decreased to $511.5 million as of December 27, 2025, down from $529.4 million a year earlier.

From Groceries to Groundwork

Ingles has transitioned from a traditional grocer into a regional powerhouse with significant real estate and manufacturing assets. Its ownership of physical locations and internal production facilities provides a durable foundation in the Southeast market.