Ingles Markets: Hurricane Helene Impact Is Phasing Out
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Ingles Markets faced significant operational disruptions due to Hurricane Helene, resulting in $35 million in impairments and temporary store closures. While fiscal Q4 results showed some weakness, the main sales impact is expected in Q1. Most stores have reopened, and the distribution center is fully operational.
December 29, 2024 | 9:15 pm
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Ingles Markets experienced $35 million in impairments and temporary store closures due to Hurricane Helene. While Q4 results showed some weakness, the main sales impact is expected in Q1. Most stores have reopened, and the distribution center is fully operational.
The hurricane caused significant financial impairments and operational disruptions for Ingles Markets, which negatively impacted Q4 results. Although most operations have resumed, the main sales impact is anticipated in Q1, suggesting potential short-term pressure on stock prices.
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