Harris Teeter Q2 Profits, Sales Rise

MATTHEWS, N.C. — Ruddick Corp. here on Thursday said operating profits at its Harris Teeter chain increased 7.1% in the fiscal second quarter to $50.5 million, driven by sales gains and efficiencies.

MATTHEWS, N.C. — Ruddick Corp. here on Thursday said operating profits at its Harris Teeter [2] chain increased 7.1% in the fiscal second quarter to $50.5 million, driven by sales gains and efficiencies.

Comparable-store sales were up 1.42% for the 13-week quarter, which ended April 3, and total sales were up 4.9%, to $1.05 billion, compared with year-ago results.

Through 26 weeks operating profits at Harris Teeter rose 6.7% to $95.4 million, on a 5.5% increase in sales, to $2.08 billion. Comps for the year to date rose 1.81%, year over year.

Profits at Ruddick Corp.'s American & Efird thread subsidiary doubled in the quarter, to $6.3 million. Harris Teeter plans to open four new stores and complete major remodels on six additional stores during the remainder of fiscal 2011.