CHARLOTTE, N.C. -- Ruddick Corp. here, parent company of Harris Teeter, Matthews, N.C., said good values, excellent customer service and ongoing promotions helped boost sales and operating profits for the second quarter and first half ended March 30.
prior quarters -- gains it said were partially offset by the closing of older stores -- and to the increase in comp-store sales.
Operating profits rose 7.8% to $23.7 million for the quarter and 8.3% to $42.6 million for the half, which the company said was driven by comp-store sales growth "and effective promotional cost management."
Thomas W. Dickson, Ruddick president, said the company was pleased with the improvements in Harris Teeter's financial results, "especially considering the shift in the Easter holiday from the second quarter last year to the third quarter this year.
"Operating profit again improved to new records while we focused on providing excellent customer service and providing value to our customers. Our ongoing promotions and new programs such as Harris Teeter Rancher beef have been very successful in generating sales in what continues to be a very competitive grocery store environment."
Harris Teeter operates 142 stores in the Southeast and accounts for nearly 90% of Ruddick's sales, with the balance coming from its textile subsidiary, American & Efird.
Overall sales for Ruddick jumped 3.9% to $685.2 million for the quarter and 3.9% to $1.4 billion for the half, while net income was up 65.5% to $14.4 million for the quarter and 42.4% to $27.4 million for the six-month period.
