<SEC-DOCUMENT>0001157523-15-000438.txt : 20150206
<SEC-HEADER>0001157523-15-000438.hdr.sgml : 20150206
<ACCEPTANCE-DATETIME>20150206070024
ACCESSION NUMBER:		0001157523-15-000438
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150206
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150206
DATE AS OF CHANGE:		20150206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INGLES MARKETS INC
		CENTRAL INDEX KEY:			0000050493
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-GROCERY STORES [5411]
		IRS NUMBER:				560846267
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			0928

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14706
		FILM NUMBER:		15581990

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 6676
		CITY:			ASHEVILLE
		STATE:			NC
		ZIP:			28816
		BUSINESS PHONE:		828-669-2941

	MAIL ADDRESS:	
		STREET 1:		P O BOX 6676
		CITY:			ASHEVILLE
		STATE:			NC
		ZIP:			28816
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51034664.htm
<DESCRIPTION>INGLES MARKETS, INCORPORATED 8-K
<TEXT>
<html>
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    <title></title>
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  <body style="font-size: 10pt; font-family: Times New Roman">
    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-family: Times New Roman; font-size: 14pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 OR 15(d) of The Securities Exchange Act of 1934</b></font><br><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; width: 40%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date of Report (Date of earliest event reported)
          </p>
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; width: 60%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">February
            6, 2015</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            INGLES MARKETS, INCORPORATED
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Exact name of registrant as specified in its charter)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            North Carolina
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; width: 34%; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            0-14706
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; width: 33%; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            56-0846267
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
          </p>
        </td>
        <td valign="bottom" style="width: 34%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            File Number)
          </p>
        </td>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; width: 33%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            P.O. Box 6676, Asheville, NC
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt; width: 34%">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; width: 33%; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            28816
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 33%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="width: 34%">
          &#160;
        </td>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <font style="font-family: Times New Roman; font-size: 10pt">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; width: 45%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Registrant&#8217;s telephone number, including area code
          </p>
        </td>
        <td valign="top" style="white-space: nowrap; border-bottom: solid black 1.0pt; width: 55%; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (828) 669-2941
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            N/A
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Former name or former address, if changed since last report.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>

    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 2.02&#160;&#160;Results of Operations and Financial Condition.</b>
    </p>
    <p style="text-align: justify">
      On February 6, 2015, Ingles Markets, Incorporated (&quot;IMKTA&quot;) issued a
      press release announcing financial information for its first quarter
      ended December 27, 2014.&#160;&#160;The press release is attached as Exhibit&#160;99.1
      to this Form&#160;8-K.
    </p>
    <p>
      <br>
      <b>Item 9.01&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="width: 7%; text-align: left; padding-left: 0.0px">
          (d)
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          Exhibits.
        </td>
      </tr>
      <tr>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 7%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 15%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td valign="top" style="width: 78%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description of Exhibit</u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 7%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="white-space: nowrap; width: 15%; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          99.1
        </td>
        <td valign="top" style="width: 78%; text-align: left; padding-left: 0.0px">
          Press release issued February 6, 2015
        </td>
      </tr>
    </table>
    </div>
    <p style="margin-left: 210.0px; white-space: nowrap">

    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u><font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font></u>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 40%">

        </td>
        <td valign="top" style="padding-bottom: 2.0px; width: 3%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; width: 52%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            INGLES MARKETS, INCORPORATED
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 40%">

        </td>
        <td valign="top" style="width: 3%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 52%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 52%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="width: 40%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            February 6, 2015
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 52%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; width: 5%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; width: 40%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; width: 3%; text-align: left; padding-left: 0.0px">
          By:
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; width: 52%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Ronald B. Freeman
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="width: 52%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Ronald B. Freeman
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="width: 52%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u>EXHIBIT&#160;INDEX</u><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="width: 20%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit</u>
          </p>
        </td>
        <td valign="top" style="width: 80%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td valign="top" style="width: 80%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; width: 20%; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          99.1
        </td>
        <td valign="top" style="width: 80%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release dated February 6, 2015
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
  </body>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51034664_ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2015 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Ingles
      Markets, Incorporated Reports Increased Sales and Net Income for First
      Quarter Fiscal 2015</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      ASHEVILLE, N.C.--(BUSINESS WIRE)--February 6, 2015--Ingles Markets,
      Incorporated (NASDAQ:&#160;IMKTA) today reported higher sales and net income
      for the three months ended December 27, 2014 compared with the three
      months ended December 28, 2013. First quarter net sales rose 2.1% to
      $964.5 million, an increase of $19.4 million over last year&#8217;s first
      quarter. Net income rose 57.7% and totaled $15.0 million for the quarter
      ended December 27, 2014.
    </p>
    <p>
      Robert P. Ingle II, Chief Executive Officer, stated, &quot;This year&#8217;s
      December quarter was stronger than last year&#8217;s in sales and
      profitability. We would like to thank all of our associates for their
      commitment and hard work in helping the Company achieve these results.&quot;
    </p>
    <p>
      <u><b>First Quarter Results</b></u>
    </p>
    <p>
      Net sales increased by 2.1% to $964.5 million for the three months ended
      December&#160;27,&#160;2014, from $945.1 million for the three months ended
      December 28, 2013. Comparable store sales (excluding gasoline),
      increased 2.3%. The number of customer transactions (excluding gasoline)
      decreased slightly, while the comparable average transaction size
      (excluding gasoline) increased 3.1% compared with the same quarter last
      year.
    </p>
    <p>
      Gross profit for the December 2014 quarter was $224.4 million, or 23.3%
      of sales. Excluding gasoline sales, grocery segment gross profit as a
      percentage of sales increased 58 basis points in the first quarter of
      fiscal 2015 compared with the same fiscal 2014 period.
    </p>
    <p>
      Operating and administrative expenses for the December 2014 quarter
      totaled $187.0 million. Operating expenses as a percentage of sales
      (excluding gasoline) were 22.8% and 21.9% for the December 2014 and
      December 2013 quarters, respectively.
    </p>
    <p>
      Interest expense totaled $12.0 million for the three-month period ended
      December 27, 2014 compared with $11.8 million for the three-month period
      ended December 28, 2013. Total debt at the end of December 2014 was
      $970.4 million compared with $925.1 million at the end of December 2013.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Basic and diluted earnings per share for Class A Common Stock were $0.77
      and $0.74, respectively, for the quarter ended December 27, 2014,
      compared with $0.44 and $0.42 per share, respectively, for the quarter
      ended December 28, 2013. Basic and diluted earnings per share for Class
      B Common Stock were each $0.70 for the quarter ended December 27, 2014,
      compared with $0.40 per basic and diluted Class B share for the quarter
      ended December 28, 2013.
    </p>
    <p>
      Capital expenditures totaled $27.6 million for the December 2014
      quarter, compared with $30.8 million for the December 2013 quarter.
      During the twelve months ended December 2014, the Company opened one new
      store, closed two stores, added five pharmacies and added 10 fuel
      centers. Total fiscal 2015 capital expenditures are expected to be
      between $100 million and $140 million.
    </p>
    <p>
      The Company currently has lines of credit totaling $175.0&#160;million, of
      which $98.5 million is currently available. The Company believes its
      financial resources, including these lines of credit and other internal
      and anticipated external sources of funds, will be sufficient to meet
      planned capital expenditures, debt service and working capital
      requirements for the foreseeable future.
    </p>
    <p>
      <i>The comments in this press release contain certain forward-looking
      statements. Ingles undertakes no obligation to publicly release any
      revisions to any forward-looking statements contained herein to reflect
      events or circumstances occurring after the date hereof or to reflect
      the occurrence of unanticipated events, except as required by law.</i> <i>Ingles&#8217;
      actual results may differ materially from those projected in
      forward-looking statements made by, or on behalf of, Ingles. Factors
      that may affect results include changes in business and economic
      conditions generally in Ingles&#8217; operating area, pricing pressures,
      increased competitive efforts by others in Ingles&#8217; marketing areas and
      the availability of financing for capital improvements. A more detailed
      discussion of these factors may be found in reports filed by the Company
      with the Securities and Exchange Commission including its 2014 Form 10-K.</i>
    </p>
    <p>
      Ingles Markets, Incorporated is a leading supermarket chain with
      operations in six southeastern states. Headquartered in Asheville, North
      Carolina, the Company operates 202 supermarkets. In conjunction with
      its&#160;supermarket operations, the Company operates neighborhood shopping
      centers, most of which contain an Ingles supermarket. The Company also
      owns a fluid dairy facility that supplies Company supermarkets
      and&#160;unaffiliated customers. The Company's Class A Common Stock is traded
      on The NASDAQ Stock Market's&#160;Global Select Market under the symbol
      IMKTA. For more information, visit Ingles' website at <u>www.ingles-markets.com</u>.
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="7" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <p>
            <b>INGLES MARKETS, INCORPORATED</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="7" valign="bottom" style="text-align: center; padding-left: 0.0px">
          (Amounts in thousands except per share data)
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="7" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Financial Highlights</b>
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="7" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>Condensed Consolidated Statements of Income (Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="5" valign="bottom" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px">
          <b>Quarter Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>December 27,</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>December 28,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          964,497
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          945,125
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          224,393
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          203,506
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Operating and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          186,979
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          177,430
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gain from sale or disposal of assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          118
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          124
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Income from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          37,532
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          26,200
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other income, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          563
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          840
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Interest expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          12,023
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          11,782
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          11,033
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          5,725
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          15,039
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          9,533
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Basic earnings per common share &#8211; Class A
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          0.77
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          0.44
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Diluted earnings per common share &#8211; Class A
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          0.74
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          0.42
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Basic earnings per common share &#8211; Class B
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          0.70
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          0.40
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Diluted earnings per common share &#8211; Class B
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          0.70
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          0.40
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Additional selected information:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Depreciation and amortization expense
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          25,299
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          23,925
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Rent expense
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          3,327
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          3,571
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="7" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>Condensed Consolidated Balance Sheets (Unaudited</b>)
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>December 27,</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          ASSETS
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          6,257
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          8,614
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Receivables-net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          72,113
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          60,991
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          338,321
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          329,524
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          16,213
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          14,789
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Property and equipment-net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,218,215
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,218,607
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          24,465
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          24,427
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          TOTAL ASSETS
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,675,584
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,656,952
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          LIABILITIES AND STOCKHOLDERS' EQUITY
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Current maturities of long-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          13,897
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          12,488
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Accounts payable, accrued expenses and current portion of other
          long-term liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          206,216
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          238,259
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          75,037
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          70,040
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 10.0px">
          Long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          956,483
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          924,772
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          29,554
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          28,790
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 35.0px">
          Total Liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,281,187
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,274,349
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 10.0px">
          Stockholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          394,397
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          382,602
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,675,584
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,656,952
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Ingles Markets, Incorporated<br>Ron Freeman, 828-669-2941
      (Ext. 223)<br>Chief Financial Officer<br>
    </p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
