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Ingles Markets, Incorporated reports news about its southeastern supermarket operations, neighborhood shopping centers and fluid dairy facility. Company updates commonly cover sales, gross profit, operating expenses, interest expense and other quarterly operating results tied to its grocery retail business.
Recurring developments also include shareholder meetings, director elections, board composition, bylaw matters and public communications about governance, disclosure, capital allocation and the company's owned real estate strategy. Operational updates may address store availability and the role of shopping centers that include Ingles supermarkets.
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Ingles Markets, Incorporated (NASDAQ: IMKTA) announced a cash dividend of $0.165 per share on Class A Common Stock and $0.15 per share on Class B Common Stock. This translates to an annual rate of $0.66 for Class A and $0.60 for Class B shares. The dividends will be payable on April 13, 2023, to shareholders of record as of April 6, 2023.
Ingles operates 198 supermarkets across six southeastern states, headquartered in location value="LU/us.nc.ashlle"Asheville, North Carolina. The company also runs neighborhood shopping centers and owns a dairy facility, supplying products to its stores.
Ingles Markets, Incorporated (NASDAQ: IMKTA) reported strong financial results for the first quarter of fiscal 2023, ending December 24, 2022. Net sales reached $1.49 billion, a 7.3% increase from the previous year. Gross profit was $371.2 million, or 24.9% of sales, slightly down from 25.2% the prior year. Net income grew to $69.4 million, from $66.2 million, with earnings per share rising to $3.73. Operating expenses increased to $276.2 million, and capital expenditures surged to $59.3 million. The company maintained a solid debt position with $564.5 million total debt and no borrowings on its credit line.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share for Class A and $0.15 per share for Class B Common Stock, amounting to annual rates of $0.66 and $0.60, respectively. The dividends are payable on January 12, 2023, to shareholders of record as of January 6, 2023. Ingles operates 198 supermarkets across six southeastern states and owns a fluid dairy facility.
Ingles Markets (NASDAQ: IMKTA) reported solid financial results for Q4 and the fiscal year ended September 24, 2022, with net sales of $1.45 billion for Q4, up from $1.34 billion in the prior year. Comparable store sales rose 5.2% in Q4 and 7.7% for the fiscal year, driving annual sales to $5.68 billion. Net income for Q4 was $70.2 million, slightly down from $71.7 million year-over-year, while annual net income rose to $272.8 million. Gross profit margins decreased slightly year-over-year.
Overall, the company continues to focus on affordable offerings for customers.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 per share for Class A Common Stock and $0.15 per share for Class B Common Stock. This translates to an annual rate of $0.66 for Class A and $0.60 for Class B. The dividends are payable on October 13, 2022, to shareholders of record as of October 6, 2022. The company operates 198 supermarkets across six southeastern states and also manages neighborhood shopping centers and a fluid dairy facility.
Ingles Markets (NASDAQ: IMKTA) reported net sales of $1.46 billion for Q3 2022, up from $1.28 billion in Q3 2021, despite inflationary pressures. Gross profit for Q3 was $351.9 million, or 24.1% of sales, down from 26.4% a year prior. Net income decreased to $67.8 million, down from $72 million, while EPS for Class A shares fell to $3.65 from $3.88. For the nine months ended June 25, 2022, net sales reached $4.23 billion with a net income of $202.6 million, compared to $178 million in the same period last year. The company expects capital expenditures between $100 million and $120 million for the year.
Ingles Markets, Incorporated (NASDAQ: IMKTA) has declared a cash dividend of $0.165 for Class A Common Stock and $0.15 for Class B Common Stock. This represents an annual rate of $0.66 and $0.60 per share, respectively. The dividends are payable on July 14, 2022, to shareholders of record on July 7, 2022.
The company operates 198 supermarkets across six southeastern states and also runs neighborhood shopping centers and a fluid dairy facility.