Harris Teeter earnings rise to $30 million | News
CHARLOTTE, NC (Jennifer Thomas/Charlotte Business Journal)-
Harris Teeter Supermarkets Inc. earned $30.3 million, or 62 cents per diluted share, in its fiscal second quarter ended April 1.
That was up from net income of $26.2 million, or 54 cents per diluted share, from comparable operations a year earlier.
In the year-ago period, the company earned an additional $3.7 million, or roughly 8 cents per share, from operations that have since been discontinued. Predecessor holding company Ruddick Corp. sold thread manufacturer American & Efird last year and said it would focus solely on its Harris Teeter grocery operations. Last month, Ruddick changed its name to Harris Teeter Supermarkets.
Harris Teeter (NYSE:HTSI) says its sales in the latest quarter totaled $1.12 billion, up 6.7 percent from $1.05 billion a year earlier. Sales at stores in operation for at least a year increased 3.9 percent.
Harris Teeter's operating profit increased 10 percent to $52.5 million.
"Our pricing and promotional strategies continue to be effective in driving unit sales, customer visits and increasing market share," says Thomas Dickson, chairman and chief executive.
So far during this fiscal year, Harris Teeter has opened three stores. It now operates 206 stores in eight states, including the Carolinas.
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