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Ingles stock sets historic high

Stock in Ingles Markets soared by more than 6% Monday, reaching its highest price in 25 years as a public company.

Jon Springer, Executive Editor

January 5, 2015

1 Min Read
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Stock in Ingles Markets soared by more than 6% Monday, reaching its highest price in 25 years as a public company.

Trading volume in the Asheville, N.C.-based retailer Monday was around five times its typical pace, statistics showed, although there was no immediate word from the company or any investors as to what sparked the volume.

Stock Monday closed at $40.90 a share, exceeding a previous high of $40.84 reached in 2007.

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Ingles has been the subject of some speculation among analysts and industry observers, who note that the chain’s holdings include an attractive real estate portfolio including most of its 202 supermarkets and many of the shopping centers in which they are located. Speculation over the future of the company was raised following the death of founder and CEO Robert P. Ingle in 2011. His son, Robert “Bobby” Ingle II, has served as CEO since then.

Ingles in December reported increases in sales and earnings for the fourth quarter and fiscal year. Sales for the year totaled $3.84 billion, up 2.6%.

 

About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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