Ingles Markets Shares Hurricane Helene’s Impact on Operations
Ingles Markets Inc. has shared some improvements since Hurricane Helene affected the operation of the company’s stores and its distribution center in North Carolina in late September.
Of its 198 grocery stores, 194 stores are currently open. The following four stores sustained damage due to flooding and winds and are temporarily closed:
- 120 Carbon City Road, Morganton
- 955B Cranberry Street, Newland
- 125 Greenwood Road, Spruce Pine
- 2299 US 70 Highway, Swannanoa
Ingles expects all four to reopen over the next three to nine months. The grocer’s distribution center in Black Mountain is now fully operational and has returned to normal operations.
[RELATED: The Fresh Market to Rebuild Following Hurricane Helene]
Ingles currently estimates that the financial impact of inventory and property loss at between $35 million and $55 million, for which it expects between $10 million to $15 million of insurance reimbursement. The company will include this impact in its upcoming report on the fiscal quarter and year ended Sept. 28. Ingles pointed out that the ultimate financial impact of inventory and property loss may differ materially from current estimates due to, as the company put it, "the complexity and preliminary nature of the information currently available to us."
Ingles released the following statement in the wake of Helene’s destruction: “Our thoughts are with everyone impacted in our communities who lost lives, loved ones, homes and access to basic necessities. We are proud to see our hard-working associates come together with neighbors and local resources to continue the Ingles commitment of serving our customers and communities.”
Hurricane Helene brought damage and devastation to North Carolina on an unprecedented scale. This was widely reported to be the deadliest storm in the state's history, having caused at least 96 North Carolinians to lose their lives. The impact on infrastructure and the economy has been staggering, according to a report from the North Carolina Office of State Budget and Management.
Ingles operates 198 supermarkets in six southeastern states. In conjunction with its supermarket operations, the company runs neighborhood shopping centers, most of which contain an Ingles supermarket. It also owns a fluid-dairy facility that supplies its supermarkets and unaffiliated customers. Ingles is No. 54 on Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.
