Ingles

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For other uses, see Ingles (disambiguation).
Ingles Markets, Inc.
Public
Traded as NASDAQ: IMKTA
Industry Retail - Grocery
Founded 1963
Headquarters Black Mountain, North Carolina, United States of America
Number of locations
 201[1]
Area served
 Alabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia
Key people
 Robert P. Ingle II (CEO), James W. Lanning (President)
Products Laura Lynn, named after Robert Ingles' daughter[2] (private label)
Services Real estate, dairy and beverage processing[3]
Revenue $3.74 billion (fiscal 2013)[1]
$20.8 million (fiscal 2013)[1]
Number of employees
 18,800[4]
Subsidiaries Milkco, Inc.
Website ingles-markets.com
Ingles in Thomasville, North Carolina.

Ingles Markets, Inc. is an American regional supermarket chain based in Black Mountain, North Carolina.[5] As of January 2011, The company operates over 200 supermarkets in the Southeastern United States. The company, although listed on the NASDAQ, is family-controlled, with 86% of the voting power and nearly half of the shares owned by the Ingle family.[3]

As an adjunct to its supermarket business, Ingles owns and operates shopping centers, gas stations and a milk processing and packaging plant.[3]

Locations

Ingles operates 201 stores in six southeastern states:[1]

Ingles also owns and operates Sav-Mor Foods, which includes seven locations in North Carolina and one each in South Carolina and Tennessee.[citation needed]

Substantially all of Ingles' stores are located within 280 miles (450 km) of its warehouse located in Black Mountain, North Carolina.[3]

History

Lua error in package.lua at line 80: module 'strict' not found. Ingles began in 1963 when Robert P. Ingle opened its first location in Asheville, North Carolina. From the beginning, it was known as "Ingles" and not "Ingle's".[6]

Ingle was following in his father's footsteps, who had been in the grocery business until 1956.[2] In 1982, Ingles purchased a milk processing and packaging plant from Sealtest, which it operates as Milkco Inc., a wholly owned subsidiary.[7] Two-thirds of Milkco's business, which was later expanded beyond dairy to include products such as citrus, tea, and bottled water, is from food service distributors, grocery warehouses, and independent specialty retailers located in 17 states as of 2010.[3] Ingles became a publicly traded company in 1987.[3]

In the 2000s, the chain started building "Ingles Gas Express" gas stations with many of its newer stores.[citation needed]

In Feb 2005, Ingles Markets announced it would restate financial statements for fiscal 2002 and 2003 and the first three quarters of fiscal 2004, to correct the accounting for vendor allowances and certain other items.[8] The restatement was a significant factor in January 2006 announcement that Ingles received a Wells notice from the U.S. Securities and Exchange Commission.[9]

Following the death of Robert Ingle on March 6, 2011,[10] his son Robert P. Ingle II became CEO.[11]

In December 2012 and December 2013, the company collaborated with Eblen Charities' St. Nicholas Project on what they called "Ingles Toy Store," offering "toys, games, clothes and stocking stuffers" to needy North Carolina families.[12]

Competition

Local competitors include Harris Teeter, Bi-Lo, Kroger, Food City, Food Lion, Lowes Foods and Publix.[13]

References

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External links

  1. ↑ 1.0 1.1 1.2 1.3 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ "Contact Information." Ingles Markets. Retrieved on November 17, 2012. "2913 US Highway 70 W Black Mountain, NC 28711-9103"
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.[dead link]
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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