Ingles Markets Reports 6.6% Sales Increase In Annual Report

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Ingles Markets, the Asheville, North Carolina-based grocery chain, reported a 6.6% increase in net sales to $1.37 billion for the first quarter of fiscal 2026 ended December 27. The company also saw a 69% jump in net income to $28.1 million compared to the same period last year.

Why it matters

Ingles Markets' strong financial performance in the first quarter, including expansion of gross profit margin and earnings per share, demonstrates the company's ability to navigate the competitive grocery landscape and meet customer demand, even as it continues to recover from the impact of Hurricane Helene.

The details

Ingles Markets reported that gross profit for the first quarter totaled $334.6 million, or 24.4% of sales, compared to $301.1 million, or 23.4% of sales, for the first quarter of fiscal 2025. Operating and administrative expenses for the quarter were $295.4 million, up from $280.7 million in the year-ago period. The company also saw a decrease in interest expense and total debt. As of December 27, three of the four stores temporarily closed due to Hurricane Helene remained closed, but are expected to reopen during 2026 and 2027.

• Ingles Markets reported net sales of $1.37 billion for the first quarter of fiscal 2026 ended Dec. 27.
• Net income totaled $28.1 million for the first quarter compared with $16.6 million for the first quarter of fiscal 2025.

What they’re saying

What’s next

Ingles Markets expects the three stores temporarily closed due to Hurricane Helene to reopen during 2026 and 2027 as the company continues its recovery efforts.