Welcome to our dedicated page for Ingles Markets news (Ticker: IMKTA), a resource for investors and traders seeking the latest updates and insights on Ingles Markets stock.
Since 1963, Ingles Markets, Inc. has been Western North Carolina's leading local supermarket, with over 200 retail locations across 6 southeastern states. Committed to old-fashioned values and progressive vision, Ingles is dedicated to meeting goals and serving communities.
Ingles Markets Inc is a U.S.-based company operating a supermarket chain primarily in the southeast United States. With stores in Georgia, North Carolina, South Carolina, Tennessee, Virginia, and Alabama, Ingles offers a wide range of goods from food products to general merchandise. The company's real estate ownership contributes significantly to its revenue through rental income.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has successfully closed a private offering of $350 million in 4.000% Senior Notes maturing in 2031. The proceeds will be utilized to fully redeem its existing 5.75% Senior Notes due 2023, repay outstanding credit facility balances, and cover related fees. The Notes are unregistered under the Securities Act and are not available for sale in the U.S. without proper registration or exemption. Forward-looking statements in the release highlight potential risks affecting anticipated results.
Ingles Markets, Inc. (NASDAQ: IMKTA) has announced a private offering of $350 million in 4.00% Senior Notes due 2031. The net proceeds will be used to redeem existing 5.75% Senior Notes due 2023, repay outstanding credit facilities, and cover related expenses. The offering is expected to close on June 17, 2021, pending customary closing conditions. The Notes will not be registered under U.S. securities laws and are offered only to qualified institutional buyers and certain non-U.S. persons.
Ingles Markets (NASDAQ: IMKTA) has announced a private offering of $350 million in senior unsecured notes due in 2031. The proceeds will be utilized to fully redeem its 5.75% Senior Notes due 2023, repay existing credit facility balances, and cover related expenses. This offering is restricted to qualified institutional buyers and specific non-U.S. individuals, and the notes will not be registered under the Securities Act. Forward-looking statements highlight possible risks and uncertainties that could affect results.
Ingles Markets, Incorporated (NASDAQ: IMKTA) reported a 3.4% increase in net sales, totaling $1.18 billion in Q2 2021, compared to $1.14 billion in Q2 2020. Gross profit rose to $310.5 million, representing 26.2% of sales. Net income increased to $52.2 million, with EPS of $2.65. For the first half, net sales reached $2.37 billion, a 6.8% rise from the previous year. While operating expenses increased to $475.0 million, interest expenses decreased significantly to $12.6 million. The company highlights the impact of COVID-19 on operations.
Ingles Markets (NASDAQ: IMKTA) is hosting an in-person hiring fair from May 11-13, 2023, for over 4,000 positions across its Retail Store and Distribution Center locations. The event aims to attract individuals reentering the workforce or seeking career changes, offering flexible scheduling and growth opportunities. Interested candidates can RSVP via Facebook or walk in with facial coverings and two forms of identification for on-the-spot interviews. Ingles operates 198 supermarkets across six southeastern states.
Ingles Markets (NASDAQ: IMKTA) is collaborating with the South Carolina DHEC and NAACP to offer COVID-19 vaccinations in Belton, SC. Scheduled for April 24 at Cedar Grove Baptist Church, the vaccination clinic will be open from 9 a.m. to 1 p.m. Chief Financial Officer Ron Freeman emphasizes the importance of this initiative in expanding vaccine access among South Carolinians. Dr. Linda Bell from DHEC highlights the clinic's role in addressing health disparities in underserved communities, especially among African Americans disproportionately affected by COVID-19.
Ingles Markets (NASDAQ: IMKTA) has successfully administered COVID-19 vaccinations at all 111 pharmacy locations across North Carolina, South Carolina, Georgia, and Tennessee. Since receiving their first vaccine allocation in December 2020, the company has collaborated with federal and state governments to facilitate the vaccination process. CFO Ron Freeman highlighted the dedication of their pharmacists in providing healthcare and vaccination services. All individuals aged 16 and older in these states are eligible to receive the vaccine at Ingles.
Ingles Markets (NASDAQ: IMKTA) is enhancing vaccination accessibility for its distribution center and office associates through on-site clinics. These clinics aim to facilitate the vaccination process for essential workers while allowing them to discuss the vaccine with pharmacists. CFO Ron Freeman emphasized the company's dedication to employee and customer protection during the pandemic. Additionally, Ingles is incentivizing vaccination by offering paid time off for associates to complete their vaccination series.
Ingles Markets (IMKTA) announces new initiatives to support the vaccination of its associates. Full-time employees will receive 10 hours of paid time off, while part-time employees will receive 5 hours upon becoming fully vaccinated against COVID-19. Additionally, Ingles has set up vaccination clinics at its Black Mountain, North Carolina headquarters and distribution center, as well as offering COVID-19 vaccines in its pharmacies across North Carolina, Georgia, South Carolina, and Tennessee. This effort underscores Ingles' commitment to employee health and community wellness.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share on Class A Common Stock and $0.15 per share on Class B Common Stock. This equates to an annual rate of $0.66 for Class A and $0.60 for Class B shares. The dividends are scheduled for payment on April 15, 2021, to shareholders on record as of April 8, 2021.
The company, headquartered in Asheville, North Carolina, operates 198 supermarkets across six southeastern states.
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