A Company Profile
Early on, Ingles implemented a successful strategy of real estate investment in the communities it served, often owning the real estate on which its stores are located. Ingles today owns two-thirds of the real estate on which it operates. Ingles operates 69 neighborhood shopping centers (all but 12 of which contain an Ingles supermarket). Additionally, one third of its stores are freestanding stores owned by the Company.
Ingles self-distributes 64% of its stores’ merchandise from its distribution center on the outskirts of Asheville North Carolina, where its headquarters is also located. Substantially all of Ingles stores are located within a 250-mile radius of the distribution center to facilitate its high standards of quality and freshness.
In 1982, Ingles found a strategic partner by purchasing a milk processing facility. Milkco, Inc., a wholly owned subsidiary, not only supplies Ingles stores with the freshest dairy products, fruit juices and bottled waters, but also sells two thirds of its products to other retailers, wholesalers and food service distributors. Annual production at Milkco has grown from 5 million gallons in 1982 to over 55 million gallons in 2002.
In 1987, the Company became publicly traded on the Nasdaq Stock Markets’s National Market under the symbol IMKTA.
Ingles’ strives to provide one-stop shopping convenience to its valued customers. Ingles supermarkets offer customers a wide variety of nationally advertised food products, including grocery, meat and dairy products, produce, frozen foods and other perishables, non-food products, including health and beauty care products and general merchandise, as well as quality private label items. In addition, the Company focuses on customer convenience by selling products to its customers through the development of book sections, media centers, floral departments, bakery departments and prepared foods including delicatessen sections. The Company recently began adding fuel centers, pharmacies and self-checkout at select store locations.
The same customer focus and commitment to quality and convenience on which Bob Ingle founded the business in 1963, continues today throughout the organization.