Harris Teeter Earnings, Sales Up in Q2

MATTHEWS, N.C. — Harris Teeter Supermarkets [1] saw sales improve by 4.3% and profits climb by 8.7% during the fiscal second quarter, the company said Thursday.

Sales and profits were aided by the shift of some Easter holiday sales to the second quarter from the third quarter a year ago. Comparable-store sales increased 3.7%.


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“We are very pleased with our results for the second quarter. Our comparable-store sales increase, which was favorably impacted by the shift of the Easter holiday, remained strong despite the fact that we did not see any meaningful inflation during this period. In addition, we continue to realize increased number of active households and customer visits year-over-year,” Thomas W. Dickson, Harris Teeter’s chairman and chief executive officer, said in a statement. “Our pricing and promotional strategies were effective in driving unit sales and increasing market share while increasing the quarterly gross margin by 10 basis points over the prior year.”

For the 13-week quarter ended April 3, Harris Teeter posted earnings of $32.8 million on sales of $1.17 billion. For the 26-week fiscal year-to-date, sales increased 4% to $2.3 billion and net earnings totaled $55.7 million, a 26.8% increase.

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