Tropical Storm Helene, inflation and higher labor costs ate into Ingles Markets’ profits last year, but the company’s board chairman still received a bonus of more than $6 million.
Robert P. Ingle II, son of the Black Mountain-based grocery chain founder, received a total of $7.4 million in compensation in 2024, including a salary of $1.2 million and bonus of nearly $6.1 million. That’s a 7 percent decrease from his 2023 package of nearly $8 million, according to a proxy statement filed with the U.S. Securities and Exchange Commission Friday.
Ingles’ Chief Executive Officer and President James W. Lanning received $3.1 million, 5 percent less than 2023. His bonus for 2024 was nearly $2 million.
Ingles reported decreases in compensation for its top executives in 2024. // Source: Proxy Statement
Although the company’s fiscal year results included only two days following the storm, Helene contributed to lower profits for the company in 2024, as Asheville Watchdogpreviously reported. The Sept. 27 storm knocked out power to 80 of the company’s 198 stores, forced the closure of four stores, and damaged the Black Mountain distribution center and corporate headquarters.
The grocery company lost $14 million in sales and nearly $35 million in inventory and property damage as of Sept. 28, the day after the storm and the end of Ingles’ fiscal year. Although partially offset by insurance, losses were expected to grow in the early part of this year, the company’s annual report said.
Net income was also down: $105.5 million in 2024 compared to $210.8 million the previous year. The company attributed the loss to “inflation in the cost of goods and increases in operating expenses due to increased labor market competition,” according to the report.
Ingles awards monthly bonuses to managers based on the performance of their business units and discretionary annual bonuses to some associates and to executives based on company performance. Ingles paid $29.2 million in bonuses last year, down from $34.4 million in 2023, the annual report said.
Ingles reported a slight increase in the wages of its full-time, part-time and temporary employees. In 2024 the 24,285 employees as of Sept. 15 earned a median salary of $22,801, an increase of $93 annually over the $22,708 median salary for 26,253 employees as of September 2023.
The company’s fiscal year consisted of 53 weeks in 2023 versus 52 weeks in 2024, which would make the median associate’s weekly salary $438 last year, a $10 increase over the previous year.
The gap between Lanning’s compensation and that of other Ingles employees, known in the SEC filings as the CEO pay ratio, decreased to 137-to-1 in 2024 from 145-to-1 in 2023.
The company’s annual meeting of shareholders is scheduled for March 3. A shareholder proposal to increase the size of the board of directors by adding two Class A shareholder seats is expected to be rejected. Robert P. Ingle holds nearly 73 percent of the voting power at the company and intends to oppose the measure, the proxy statement said.
The proxy statement also indicates that while she remains a director of the company, Laura Lynn Ingle Sharp, Robert P. Ingle’s sister and namesake of the Laura Lynn brands sold at Ingles, no longer holds any shares of the company.
Asheville Watchdog is a nonprofit news team producing stories that matter to Asheville and Buncombe County. Sally Kestin is a Pulitzer Prize-winning investigative reporter. Email skestin@avlwatchdog.org. The Watchdog’s reporting is made possible by donations from the community. To show your support for this vital public service go to avlwatchdog.org/support-our-publication/.
www.thecentersquare.com – By Alan Wooten | The Center Square – (The Center Square – ) 2025-03-28 12:56:00
(The Center Square) – Persistent dry and windy conditions, along with downed trees from Hurricane Helene six months ago, remain troublesome for wildfires in the Carolinas.
The Table Rock Fire, largest of several, has crossed from Pickens County in South Carolina to Transylvania County in North Carolina.
In an update from the South Carolina Forestry Commission on Thursday evening, the Tabe Rock fire grew significantly during the day and the Persimmon Ridge fire only modestly. The Table Rock fire is estimated 8,679 acres and the Persimmon Ridge fire 1,992 acres.
Three counties are home to four other significant size fires in the Tarheel State: Deep Woods and Black Cove in Polk County, Alarka in Swain County, and Rattlesnake Branch in Haywood County.
“Excessive storm debris and timber damage from Hurricane Helene has created many challenges for firefighting efforts,” a release from the North Carolina Forest Service said Friday morning. “One factor is the loss of tree canopy. More ground cover is receiving direct sunlight, accelerating the rate in which fuels dry out.”
The Black Cove fire that originated March 19 is 3,288 acres in size and 17% contained, the Forest Service says. It is approximately 2 miles northeast of Saluda in the Green River Gorge.
The Deep Woods fire, also a March 19 start, is 3,373 acres in size and 30% contained, the Forest Service says. It is about 5 miles northwest of Columbus in the Green River Gorge and the adjacent Holbert Cove community.
The Fish Hook fire that began March 20 is 199 acres in size and 95% contained, the Forest Service says. This fire is about 5 miles northwest of Mill Spring near Lake Adger.
Other fires of size are burning near Sylva and Leicester.
Burning bans are in effect throughout North and South Carolina.
SUMMARY: A wildfire in Western North Carolina has become the highest priority in the U.S. The Black Cove Complex fire near Saluda has burned over 6,500 acres, with over 500 firefighters working to contain it. Authorities warn residents in mountain communities, like Buncombe County, to prepare evacuation bags in case orders are issued. The fire has triggered statewide concerns, with varying levels of fire danger across the state. A statewide burn ban is in effect, and officials are hopeful that rain expected this weekend will help control the blaze. Aircraft are being used to drop water and fire retardant to assist firefighting efforts.
More firefighters are arriving in Western North Carolina now that the Fire Service says a fire burning there is now the highest priority in the U.S.
SUMMARY: In late March 1963, Alfred Hitchcock’s thriller *The Birds* premiered, and in honor of its anniversary, Scott Mason revisits Elm City’s own bird phenomenon. Every afternoon, flocks of hundreds of thousands of starlings and blackbirds gather, creating a stunning, synchronized spectacle. The birds swarm the same fields at the same time, a behavior observed for over 20 years. Local residents are captivated by the sight, though some remain curious about the birds’ nature. Experts believe the birds flock for food and protection. This “bird ballet” continues to awe those lucky enough to witness it each day.
It was around this time in March 1963 when the movie “The Birds” premiered. The Tar Heel Traveler revisits Elm City’s very own thrilling version of the birds.
