Profile: Ingles Markets Inc (IMKTA.OQ)
28.76USD
1 Aug 2013
$0.30 (+1.05%)
$28.46
$28.76
$29.22
$28.50
14,678
16,368
$29.22
$15.33
Ingles Markets, Incorporated (Ingles), incorporated in June 2, 1965, is a supermarket chain in the southeast United States. As of September 29, 2012, the Company operated 203 supermarkets, including 74 in Georgia, 69 in North Carolina, 36 in South Carolina, 21 in Tennessee, two in Virginia and one in Alabama. The Company’s supermarkets are located in suburban areas, small towns and neighborhood shopping centers. Ingles supermarkets offers customers a range of advertised food products, including grocery, meat and dairy products, produce, frozen foods and other perishables, and non-food products. Non-food products include fuel centers, pharmacies, health and beauty care products and general merchandise. The Company also offers private label items. The Company’s modern stores focuses on selling products, including perishable departments featuring organic and home meal replacement items, in-store pharmacies, on-premises fuel centers, and a selection of food and non-food items to provide a one-stop shopping. It has a warehouse and distribution facilities, near Asheville, North Carolina, from which the Company distributes grocery, produce, meat and dairy products to all Ingles stores.
As of September 29, 2012, the Company owned and operated a milk processing and packaging plant that supplies approximately 83% of the milk products sold by the Company’s supermarkets, as well as a range of organic milk, fruit juices and bottled water products. In addition, the milk processing and packaging plant sells approximately 69% of its products to other retailers, food service distributors and grocery warehouses in 17 states. As of September 29, 2012, the Company owned and operated 69 shopping centers, of which 57 contain an Ingles supermarket, and owns 95 additional properties that contain a free-standing Ingles store. As of September 29, 2012, the Company also owned 12 undeveloped sites for a free-standing store. The Company operates three lines of business: retail grocery sales, shopping center rentals and a fluid dairy processing plant. The grocery category includes grocery, dairy and frozen foods. The non-foods category includes alcoholic beverages, tobacco, pharmacy, health and video. The perishables category includes meat, produce, deli and bakery.
Supermarket Operations
As of September 29, 2012, the Company operated 194 supermarkets under the name Ingles, and nine supermarkets under the name Sav-Mor with locations in western North Carolina, western South Carolina, northern Georgia, eastern Tennessee, southwestern Virginia and northeastern Alabama. The Sav-Mor store accommodates smaller shopping areas and carries a range of dry groceries, fresh meat and produce. The Company’s stores provide products and services, such as home meal replacement items, delicatessens, bakeries, floral departments, video rental departments, greeting cards and broad selections of organic, beverage and health-related items. As of September 25, 2012, the Company operated 81 pharmacies and 72 fuel stations.
Merchandising
The Company’s stores carry a range of meats, produce and other perishables. The Company offers a range of fresh and non-perishable organic products, including organic milk produced by the Company’s fluid dairy plant. A range of prepared foods and home meal replacements are featured throughout Ingles’ deli, bakery and meat departments to provide customers with meal alternatives. Many stores offer daily selections of home meal replacement items, such as rotisserie chicken and pork, Italian foods, fried chicken, meat loaf and other entrees, sandwiches, pre-packaged salads, sushi and prepared fresh vegetables. The bakery offers a range of baked goods and self-service selections. Ingles bakes its items on site, including bread baked daily, cakes made to order in various sizes, donuts and other pastries. The deli offers a salad bar, an expanded offering of cheeses, olives, gourmet items and home meal replacement items. The Company also provides its customers with a range of frozen food items, including organics.
Purchasing and Distribution
The Company supplies approximately 56% of its supermarkets’ inventory requirements from its modern 839,000 square foot warehouse and distribution facilities, from which the Company distributes groceries, produce, meat and dairy products to all Ingles stores. Approximately 9% of the Company’s other inventory requirements, frozen food and slower moving items that are purchased from Merchant Distributors, Inc. (MDI), a wholesale grocery distributor. In addition, MDI purchases product from Milkco, Inc., the Company’s fluid dairy subsidiary. Goods from the warehouse and distribution facilities and the milk processing and packaging plant are distributed to the Company’s stores by a fleet of 109 tractors and 485 trailers that the Company operates and maintains, including tractors and trailers that the Company leases. The Company also operates truck servicing and fuel storage facilities at its warehouse and distribution facilities. The remaining 44% of the Company’s inventory requirements, including beverages, gasoline, bread and snack foods, are supplied directly to Ingles supermarkets by local distributors and manufacturers.
The Company competes with Aldi, Inc., Bi-Lo, LLC., K-VA-T Food Stores, Inc., Delhaize America, Inc., The Kroger Co., Publix Super Markets, Inc., Target Corporation, and Wal-Mart Stores, Inc.
Company Address
Ingles Markets Inc
2913 U.S. Hwy. 70 West
BLACK MOUNTAIN NC 28711-9103
P: +1828.6692941
F: +1828.6693678
Company Web Links
| Name | Compensation |
|---|---|
Robert Ingle |
869,940 |
James Lanning |
807,422 |
Ronald Freeman |
362,945 |
L. Keith Collins |
204,532 |
Laura Sharp |
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