Harris Teeter Comps Slide, but Profits Grow in Q2

CHARLOTTE Harris Teeter here said new-store growth and aggressive pricing helped drive sales and profit gains in the second quarter, although comp-store sales were off by 1.33%. Operating income at the chain, a subsidiary of Ruddick Corp., grew 4.6% to $47.1 million for the quarter, which ended March 28. Sales were up 5.4%, to $1 billion, largely due to the addition of 16 net new stores since the

CHARLOTTE — Harris Teeter here said new-store growth and aggressive pricing helped drive sales and profit gains in the second quarter, although comp-store sales were off by 1.33%.

Operating income at the chain, a subsidiary of Ruddick Corp., grew 4.6% to $47.1 million for the quarter, which ended March 28. Sales were up 5.4%, to $1 billion, largely due to the addition of 16 net new stores since the second quarter of a year ago.

Through the 26-week first half, operating

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