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Local Grocer, Harris Teeter, Shows Strong 3rd Quarter Increases

Local Grocer, Harris Teeter, Shows Strong 3rd Quarter Increases

Charlotte grocery store produce shoppingThe Harris Teeter grocery chain and thread company American & Efird, reported yesterday that despite the bad news in the stock market, Ruddick’s subsidiaries is showing significant increases in revenue.  Ruddick’s subsidiaries increased its third-quarter revenue, rising to $1.19 billion.

The $32 million profit for the quarter is up 11 percent from 2010. The 204-store Harris Teeter chain revenue increased 8% as compared to the same quarter last year, to $1.1 billion.  Sales at stores open a year or more rose 4.4 percent.

Increased sales were a result of more consumer visits to their 204 stores as well as larger average purchases and more customers buying more of the higher-margin items such as premium meats, deli cheeses and fresh or organic produce.

The Harris Teeter, headquartered in the Charlotte area, is a widely popular grocery chain, located across the entire Charlotte Metro area.  Charlotte residents thank you for your significant contribution to the Charlotte real estate recovery!

Posted in: Charlotte NC News, In the News, The Latest on All Things Real Estate - Charlotte NC Tagged: Charlotte NC Economics, Charlotte NC News, Charlotte Real Estate Recovery

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