CHARLOTTE, N.C. -- Harris Teeter here reported a 3% rise in total sales, but same-store results were flat for its fiscal first quarter ended Jan. 2, parent company Ruddick Corp. said last week.
n nine stores during the fiscal year.
Thomas W. Dickson, Ruddick president, said that "aggressive feature pricing" by competitors in key markets helped keep same-store sales flat. Total sales for Harris Teeter rose 3% to $583.3 million from $566.0 million. A better mix of higher-margin business, including store brands, increased productivity during the quarter, Dickson added.
Net income was $13.4 million, an increase of 6.3%. Ruddick's financial results include sales and earnings from American & Efird, a manufacturer and distributor of industrial sewing thread. American & Efird sales decreased 5% to $82.2 million for the quarter.
