Harris Teeter reports sales gains of 5.8% for its fiscal 2012
MATTHEWS, N.C. — Harris Teeter Supermarkets on Thursday posted sales of $4.5 billion for the 52 weeks ended Oct. 2, up 5.8%. Comparable store sales increased by 4% for the year
“We are pleased with our results for fiscal 2012 and the completion of our purchase and sale transaction with Lowes Foods," stated Thomas Dickson, Harris Teeter chairman and CEO. "On a comparable store basis, we continue to experience increased unit sales compared to the prior year, and our store-brand penetration continues to improve. We believe these positive results are attributable to our continuing commitment to our customers to deliver outstanding values and excellent customer service.”
Over the course of fiscal 2012, Harris Teeter opened 13 stores, including six stores acquired from Lowes Foods, and closed eight stores. In addition, one store located in the Washington, D.C., market has been temporarily closed while the company repairs damage caused by flooding that occurred in the third quarter of fiscal 2012.
Harris Teeter operated 208 stores as of the end of fiscal 2012, and retail square footage increased by 4.5% for the fiscal year.
Capital expenditures for fiscal 2012 totaled $200 million and are expected to total approximately $235 million for fiscal 2013, the grocer reported. The fiscal 2013 capital plan includes 12 new stores and nine major remodels. In addition, the company anticipates re-opening the store in the Washington, D.C., market that was closed to repair damage caused by flooding. The fiscal 2013 store development program is expected to result in a 5.4% increase in retail square footage.