Promotions Sink Harris Teeter’s Q3 Profits

Investments in promotions in the third quarter put pressure on the operating earnings of Harris Teeter, the chain’s parent company said yesterday. Ruddick Corp. here said operating profit at Harris Teeter was down 3.8%, to $42.8 million, compared with the year-ago period.

CHARLOTTE, N.C. — Investments in promotions in the third quarter put pressure on the operating earnings of Harris Teeter, the chain’s parent company said yesterday. Ruddick Corp. here said operating profit at Harris Teeter was down 3.8%, to $42.8 million, compared with the year-ago period.

Comparable-store sales fell 1.42% for the quarter (including a 32-basis-point bump from the later Easter this year), but total sales increased by 4.1%, to $964.2 million, buoyed by the additi

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