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    Bryan Hunt

    Research Analyst at Wells Fargo Securities, LLC

    Bryan Hunt's questions to INGLES MARKETS (IMKTA) leadership

    Bryan Hunt's questions to INGLES MARKETS (IMKTA) leadership • Q1 2016

    Question

    Bryan Hunt from Wells Fargo Securities, LLC asked about the drivers behind the strong 7% growth in non-food sales, the reasons for increased perishable sales, the cause of the nearly 11% rise in gasoline gallons sold, the current stage of store upgrades, and the total number of undeveloped sites in the company's land bank.

    Answer

    CFO Ron Freeman explained that there was nothing unique driving non-food sales growth. He confirmed that perishable growth was due to both consumer trends and increased company investment. Freeman credited the successful fuel rewards program for the significant increase in gasoline gallons sold. He also noted that store remodels are part of a continuous lifecycle and directed the query on the land bank size to the recent 10-Q filing.

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    Bryan Hunt's questions to INGLES MARKETS (IMKTA) leadership • Q4 2015

    Question

    Bryan Hunt of Wells Fargo Securities inquired about the company's private label penetration, the capacity and utilization of its distribution center, the change in square footage for two stores being rebuilt, and the current competitive promotional environment.

    Answer

    CFO Ronald Freeman explained that Ingles Markets does not disclose private label penetration data. He confirmed the distribution center has ample capacity to support anticipated growth for the foreseeable future. Regarding the rebuilt stores, he noted they would be approximately 70,000 square feet each, resulting in a net square footage increase. Freeman characterized the promotional landscape as consistently intensive with no change.

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