Harris Teeter sales increased by 8.1% to $1.10 billion in the third quarter of fiscal 2011, compared to sales of $1.02 billion in the third quarter of fiscal 2010. For the 39 weeks ended July 3, 2011, sales rose 6.4% to $3.18 billion from $2.99 billion in the same period of fiscal 2010. The increase in sales for both the quarter and 39-week period was attributable to an increase in comparable store sales of 4.37% for the quarter and 2.68% for the 39-week period ended July 3, 2011, incremental new store sales and a one week shift in the fiscal year which resulted in the reporting of the July Fourth Holiday sales in the third fiscal quarter of 2011 as compared to the fourth quarter of fiscal 2010. For purposes of computing comparable store sales, the July Fourth Holiday sales were included in the third fiscal quarters for both fiscal 2011 and 2010, whereas the Easter Holiday sales were included in the third fiscal quarter of 2011 and the second fiscal quarter of 2010. Management estimated that the Easter Holiday shift positively impacted the comparable stores sales calculation by approximately 79 basis points for the quarter ended July 3, 2011.Since the third quarter of fiscal 2010, Harris Teeter has opened six new stores (one of which replaced an existing store) and closed one store, for a net addition of five stores. Harris Teeter operated 204 stores at the end of the third quarter of fiscal 2011.
Ruddick Corporation Reports Fiscal Third Quarter 2011 Results
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.