Promotions Hit Q1 Profits at Harris Teeter

CHARLOTTE, N.C. — Continued promotional price investments contributed to a slight decline in operating profits, while deflation negatively impacted comparable-store sales during the fiscal first quarter at Harris Teeter, the retailer said Thursday.

CHARLOTTE, N.C. — Continued promotional price investments contributed to a slight decline in operating profits, while deflation negatively impacted comparable-store sales during the fiscal first quarter at Harris Teeter, the retailer said Thursday.

The chain, a division of holding company Ruddick Corp. here, reported operating profits of $42.3 million, or 3.5% of sales of $972.3 million for the quarter that ended Dec. 27. Overall sales were up by 4.7% but operating profits fell

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