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    Dave Cooke

    Research Analyst at Wells Fargo

    Dave Cooke's questions to INGLES MARKETS (IMKTA) leadership

    Dave Cooke's questions to INGLES MARKETS (IMKTA) leadership • Q2 2016

    Question

    Dave Cooke of Wells Fargo inquired about inflation and deflation trends, the competitive promotional environment, the company's exploration of click-and-collect services, the strategic value of the fluid dairy processing business, and the potential threat from new competitors like Lidl and Wegmans entering the North Carolina market.

    Answer

    CFO Ron Freeman explained that inflation varies by department, with milk prices down and some relief in produce. He declined to comment on competitor activities or specific threats from new entrants like Lidl and Wegmans, citing company policy. Regarding technology, Mr. Freeman confirmed Ingles is exploring various customer access and payment options, including click-and-collect, but has no announcements. He affirmed that the fluid dairy business is a key strategic asset, providing a steady milk supply and a diversified revenue stream.

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    Dave Cooke's questions to INGLES MARKETS (IMKTA) leadership • Q3 2015

    Question

    Dave Cooke, on behalf of Wells Fargo, asked about the cadence of same-store sales throughout the quarter, the drivers behind increased gasoline gallon sales, and the reasons for the rise in operating expenses, particularly payroll.

    Answer

    CFO Ronald Freeman responded that same-store sales were consistent throughout the quarter. He attributed the increase in gasoline gallons sold to more people traveling. Regarding the increase in operating, general, and administrative (OG&A) expenses, Freeman clarified that the payroll component was driven by a tighter labor market and resulting wage pressure, rather than minimum wage hikes or higher incentive compensation.

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