US retailer Harris Teeter has posted a slight increase in operating profit for its fiscal third quarter, boosted by higher sales and cost controls.
For the period ended 27 June, operating profit edged up 0.8% to US$43.1m.
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For the three month period, sales at Harris Teeter rose 5.7% to $1.02bn. Parent group Ruddick said the increases were attributable to incremental new-store sales, partially offset by comparable-store sales declines during the respective periods.
Harris Teeter’s comparable-store sales dipped 0.7% during the quarter.
During the first three quarters of fiscal 2010, Harris Teeter opened 13 new stores and closed three existing outlets, two of which were replaced by new stores.
Thomas Dickson, chairman of the board, president and CEO, said: “We continued to drive customer shopping visits and loyalty through the investments we have made in our in-store promotional activity and lower everyday prices. This has resulted in an increased number of customers, increased number of items sold and greater number of customer shopping visits in fiscal 2010.”
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