From Yahoo Finance: 2025-05-08 13:51:00

Ingles Markets reported a 52.7% decrease in net income for the second quarter, with sales down 2.7% to $1.33 billion. Three stores remain closed due to Hurricane Helene damage, causing food insecurity in affected areas. Ingles lost $55-65 million in sales post-hurricane. Operating expenses rose 1.5% to $289.1 million.

The company’s net income for the first half of fiscal 2025 was down 57.9% to $31.7 million, with net sales decreasing by 8% to $2.62 billion. Gross profit margin remained steady at 23.4%. Capital expenditures for the first half of 2025 totaled $62 million, a decrease from the previous year. Ingles now operates 197 stores.

Ingles Markets has faced challenges in the second quarter, with net income falling over 50% and three stores still closed due to hurricane damage. Operating expenses increased slightly, while gross profit margins remained stable. The company has also seen a significant decrease in net income and sales for the first half of the fiscal year.

Read more: Ingles’ Q2 results get battered by storm-damaged stores