ROSEWELL, Ga. -- Harry's Farmers Market here said the company had a net loss and lower sales for the third quarter ended Nov. 1.
illion for the quarter and rose 0.2% to $102.6 million for the year to date.
Harry Blazer, chairman and chief executive officer, said the company was surprised by the sales results, "which were somewhat lower" than had been anticipated. However, he said the earnings losses "were in keeping with our previously reported expectation."
He said the company expects the weaker sales trend to continue into the fourth quarter. He said Harry's launched a radio advertising campaign Dec. 18 "to help increase sales during the holiday period."
Blazer also said several initiatives have been put in place to help the company improve its performance, "and we expect to see the positive results of these initiatives reflected in our financial performance beginning in the fourth quarter and continuing into the first and second quarters of next year."
He said the company has undergone "extensive fundamental changes in our management team and underlying business processes."
Harry's operates three fresh stores and five Harry's In a Hurry convenience stores in the Atlanta metropolitan area.