Harris-Teeter Accelerates Expansion
Charlotte, N.C., Ruddick Corp. plans to accelerate the expansion of the Harris-Teeter supermarket chain next year, with a primary focus on the northern Virginia market. The company plans to open 16 new stores in 2006, with four opening in northern Virginia. It expects to have eight stores open by the end of this fiscal year.
The company plans to have $120 million in capital expenditures for fiscal 2005. Capital expenditures are expected to be $170 million for 2006. Included in the 2006 total is $24 million, which will be used to remodel six Winn-Dixie supermarkets the company acquired.
Harris Teeter Sales Increase
Charlotte, N.C., Ruddick Corp. reported that for the third quarter ended July 3, Harris Teeter sales rose 6.1% to $663.3 million from $625.3 million in the comparable 2004 period. For the 39 weeks ended July 3, 2005, sales rose 4.9% to $1.97 billion from $1.88 billion in the same period of fiscal 2004. The increase in sales was attributable to new store activity and comparable-store-sales increases that were 2.89% for the quarter and 3.32% for the 39-week period.
Report: Wal-Mart Seeks Brazilian Stores
Sao Paulo, Brazil, Wal-Mart Stores is close to buying the Portuguese Sonae’s retail chain in Brazil, according to a report from Sao Paulo-based consulting firm Gouvea de Souza. Sonae operates about 150 supermarkets and hypermarkets in the southern region of the country. Wal-Mart offered 800 million euros for the chain, according to local reports.