Earnings Slide, Comps Flat at Harris Teeter

Quarterly net income at the parent company of Harris Teeter declined by 4.7% as promotional prices cut into profits and comparable-store sales were flat, the company said Thursday.

MATTHEWS, N.C. — Quarterly net income at the parent company of Harris Teeter declined by 4.7% as promotional prices cut into profits and comparable-store sales were flat, the company here said Thursday.

Net earnings of $22.9 million for the 13-week period ending March 29 also reflected sales declines and a $4.6 million operating loss at American & Efird, a textile division of Ruddick Corp. Sales at Harris Teeter increased by 6.3% to $949.4 million in the quarter, primarily

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