The Ingles store in Spruce Pine remains closed more than 16 months after Hurricane Helene caused extensive damage in September 2024, with little public information available about when it will reopen.
In a February 5th SEC filing, Ingles said it plans to reopen three storm-damaged locations — Spruce Pine in Mitchell County, Swannanoa in Buncombe County and Morganton in Burke County — sometime in 2026 and 2027. The company did not provide a more specific timeline for any of the stores.
The Black Mountain News reported that demolition has begun at the Swannanoa store, which will be rebuilt as a 95,391-square-foot location — about 45% larger than before — and will include a gas station, additional retail space and a dog park.
In Morganton, The Paper has reported that the store’s interior remains gutted. Renovations began in 2025 but were halted, reportedly due to permitting issues and proposed layout changes.
No similar progress updates have been released regarding the Spruce Pine store.
According to Businessinc.com, Ingles reported gross profit of $334.6 million and net income of $28.1 million in the first quarter of fiscal year 2026, compared to gross profit of $301.1 million and net income of $16.6 million in the first quarter of 2025.
Ingles shares were trading around $84.49 at 2 p.m. Thursday, up 1.45%. Shares are up 25.2% in the last 52 weeks and 23.25% since Jan. 1. Ingles has a market capitalization of $1.6 billion.
In its most recent annual report, Ingles reported it operated 194 stores, including 72 in North Carolina, 64 in Georgia, 35 in South Carolina, 21 in Tennessee, and one each in Virginia and Alabama. It also reported losing $30.4 million in inventory and $4.5 million in property related to Hurricane Helene.