Ingles Markets, Incorporated provides an update on the impacts of Hurricane Helene

ASHEVILLE, NC, October 3, 2024–(BUSINESS WIRE)–Ingles Markets, Incorporated (NASDAQ: IMKTA) today announced that Hurricane Helene impacted both store and distribution center operations. Our hearts are heavy for those in our communities who have lost lives, loved ones, homes and access to basic needs. Hurricane Helene brought unprecedented flooding and property damage, as well as prolonged power and water outages, which impacted our operations.

Currently, 186 of our 198 branches are open for business, but due to a lack of internet access and other connectivity, transactions are limited in many locations. We expect all locations that remain closed to reopen once power is restored to their respective areas. However, we do not have a timetable for power restoration.

About Ingles Markets, Incorporated

Ingles Markets, Incorporated is a leading grocery retailer with operations in six southeastern states. The company is headquartered in Asheville, North Carolina and operates 198 supermarkets. In connection with its supermarket operations, the Company operates neighborhood shopping centers, most of which contain an English supermarket. The company also owns a liquid dairy plant which supplies UK supermarkets and unaffiliated customers. To learn more about Ingles Markets, visit ingles-markets.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may relate, among other things, to our expected financial and operating results and the related assumptions underlying our expected results. These forward-looking statements are characterized by the use of words such as “anticipate,” “seek,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “could.” could, “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would,” and the negative of these terms and similar references to future periods. These statements are based on management’s current expectations and are subject to uncertainties and changes in circumstances. Actual results may differ materially from these expectations due to, among other things, the following: business and economic conditions generally in the Company’s area of ​​operations, including inflation or deflation; shortages of labor, distribution capacity and some product shortages; inflation of food, labor and gasoline prices; the effects of weather-related events and natural disasters; the Company’s ability to successfully implement our expansion and operating strategies; pricing pressures and other competitive factors, including online sourcing of products the Company sells; sudden or significant changes in the availability of gasoline and retail prices for gasoline; the maturation of new and expanded businesses; general food safety concerns; the Company’s ability to manage technology and data security; the availability and terms of financing; and increases in costs, including food, supplies, labor and other goods and services essential to the Company’s operations. Detailed information regarding these factors and other important factors can be found in the Company’s filings with the Securities and Exchange Commission, such as: B. Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to update any forward-looking information, except as required by law.

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Contacts

Ingles Markets, Inc.
Pat Jackson, Chief Financial Officer
[email protected]
(828) 669-2941 (ext. 223)