ROSWELL, Ga. -- Harry's Farmers Market here said last week it will open its third Harry's in a Hurry store in December in northwest Atlanta -- and is negotiating for sites for additional stores in metropolitan Atlanta.
a situation it attributed to planning, training, installation of new systems and other expenses related to future stores, plus inventory adjustments and lower sales.
The loss was $1.7 million for the 13-week quarter and $940,000 for the half, compared with net income in both periods a year ago. Sales fell 6.6% for the quarter to $35.7 million and 2.8% for the half to $69.7 million. Same-store sales fell 5% for the quarter and 2.1% for the half.
The company said sales were down because of the boost sales got a year ago from the 1996 Olympic Games, which lifted second-quarter sales by approximately $700,000.
Other factors contributing to the loss were the $800,000 spent this year to reduce slow-moving nonperishable inventory with markdowns and closeout pricing and the inclusion in last year's second quarter of $200,000 in nonrecurring gains.