Upscale Tack Boosts Harris Teeter

The economic environment may be getting more challenging for some, but Harris Teeter is continuing to thrive. The retailer here said comparable-store sales gains of 4.4% drove a 27.6% increase in earnings for the fiscal first quarter that ended Dec. 30. Net income of $18.3 million, or 38 cents a share, exceeded analyst estimates by 3 cents and convinced some that Harris Teeter's upscale

CHARLOTTE, N.C. — The economic environment may be getting more challenging for some, but Harris Teeter is continuing to thrive.

The retailer here said comparable-store sales gains of 4.4% drove a 27.6% increase in earnings for the fiscal first quarter that ended Dec. 30. Net income of $18.3 million, or 38 cents a share, exceeded analyst estimates by 3 cents and convinced some that Harris Teeter's upscale positioning and its focus on expansion to wealthier markets has placed it

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