Ingles Markets Inc

Ingles Markets, Incorporated is a leading supermarket chain operating in the southeastern United States. The company operates a total of 194 supermarkets across six states: North Carolina (72), Georgia (64), South Carolina (35), Tennessee (21), Virginia (1), and Alabama (1). This count excludes three stores that are temporarily closed due to damage from Hurricane Helene. On September 27, 2024, Hurricane Helene caused significant damage, particularly in western North Carolina, impacting the company's headquarters and properties, including its distribution center, which returned to full operation within two weeks. For the year ended September 28, 2024, Ingles recognized impairment losses of $30.4 million for inventory and $4.5 million for property and equipment damaged or destroyed by the hurricane. Four stores sustained damage requiring temporary closure; as of the date of this report, three remain closed and are expected to reopen in 2026 or 2027. For the year ended September 27, 2025, the company incurred approximately $9.0 million in cleanup and repair costs and received aggregate insurance proceeds of $6.2 million. On July 4, 2025, the One Big Beautiful Bill Act (OBBB) was signed into law, reinstating several income tax provisions from the U.S. Tax Cuts and Jobs Act of 2017 and making other changes, many effective in 2026.