Aggressive 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 last week. Ruddick Corp. 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 13-week quarter (including a 32-basis-point bump from the later Easter

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 last week. 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 13-week quarter (including a 32-basis-point bump from the later Easter this year), but total sales at the chain increased by 4.1%, to $964.2 million,

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