Ingles Markets Reports Decline in Quarterly Earnings

Ingles Markets Inc ( (IMKTA) ) has released its Q2 earnings. Here is a breakdown of the information Ingles Markets Inc presented to its investors.

Ingles Markets Inc., a prominent supermarket chain in the Southeast, operates 197 supermarkets across several states, offering a wide range of food and non-food products, including organic items and prepared foods. In its latest earnings report, Ingles Markets Inc. reported a decline in net sales and net income for the three and six months ended March 29, 2025, compared to the same periods in 2024. The company faced challenges due to Hurricane Helene, which caused significant damage and led to the temporary closure of several stores. Key financial metrics showed a decrease in net sales to $1.33 billion for the quarter, down from $1.37 billion the previous year, and net income fell to $15.1 million from $31.9 million. Operating expenses remained relatively stable, but the company experienced a loss from the sale or disposal of assets. Despite these challenges, Ingles Markets continues to focus on its core supermarket operations and is working towards reopening the affected stores. Looking ahead, the company remains committed to its growth strategy and operational improvements, while navigating the ongoing recovery from the hurricane’s impact.