Ingles Markets, Incorporated (IMKTA) is a leading grocer with operations in six southern states. The company, based in Asheville, North Carolina, runs 198 supermarkets. In addition to its supermarket operations, the company maintains community retail centers, most of which include an Ingles supermarket.
The stock has gained 62.2% over the past year and 12.3% year-to-date to close its last trading session at $96.95. Despite skyrocketing prices and dwindling consumer confidence, retail sales in the United States increased by 1% in June. This enabled the retail giant IMKTA to post consistent returns.
