Charlotte Real Estate Recovery Even Felt at Local Grocer - Q3 Earnings Significantly Improved
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!
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Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310
