CHARLOTTE, N.C. -- Ruddick Corp. here, parent of the Harris Teeter supermarket chain, reported that net income decreased slightly but sales rose for the first quarter ended Dec. 31.
Earnings dropped 2.4% from $8.3 million to $8.1 million but sales increased 7.3% from $493.6 million to $529.7 million.
Overall sales at Harris Teeter jumped 9.1% from $423.9 million to $462.6 million and same-store sales jumped 4.6%. Operating profit was up 21% from $10 million to $12.1 million due to "increased sales volume and favorable product mix" and the control of operating expenses, said a statement from the company.
In addition to Harris Teeter, Ruddick Corp. also operates American & Efird.
Qtr Ended 12/31/95 1/1/95
Sales $529.7 million $493.6 million
Change + 7.3%
Same-store + 4.6%
Net Income $8.1 million $8.3 million
Change - 2.4%
Inc/Share 17 cents 17 cents
(Note: All figures in the chart refer to Ruddick Corp., except the same-store sales figure, which refers to Harris Teeter.)