Harris Teeter Comps, Spending Down

Harris Teeter is feeling the chill of the slowing economy. Shoppers made fewer discretionary purchases and traded down to lower-priced store-brand items, leading to a 2.1% decline in comparable-store sales during the fiscal first quarter that ended Dec. 28, the retailer said yesterday.

CHARLOTTE, N.C. — Harris Teeter is feeling the chill of the slowing economy. Shoppers made fewer discretionary purchases and traded down to lower-priced store-brand items, leading to a 2.1% decline in comparable-store sales during the fiscal first quarter that ended Dec. 28, the retailer said yesterday.

“We, like everyone else, are facing unprecedented economic uncertainty, tumultuous market conditions, and a decreasing level of consumer confidence resulting in reduced consumer

Register to view the full article

test - Advanced Registered User

Already a member? .