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

The 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!