CHARLOTTE, N.C. — Ruddick Corp., parent of the Harris Teeter chain, said the chain's operating profit was up 6.3% in its fiscal first quarter, to $35.4 million, but its profit margins were down for the period because of pre-opening costs for new stores.
The company, which has 155 supermarkets, plans to build 16 new units in the rest of 2007, including one replacement store, as it continues to concentrate on growth in northern Virginia.
Operating profit as a percent of sales was 4.45% in ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Click here to read the FAQ page if you have any questions (opens in a new window)
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.