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Harris Teeter and Lowe’s in store swap
Charlotte, N.C. -- Harris Teeter Supermarkets entered into an agreement with Lowe’s Food Stores whereby Harris Teeter will acquire 10 Lowes locations in the central Carolinas region and Lowes Foods acquiring six Harris Teeter store locations in western North Carolina.
In addition to the six Harris Teeter stores, Harris Teeter has agreed to pay Lowes Foods $26.5 million. The transaction is expected to be completed in the company’s third quarter of fiscal 2012, which ends July 1, 2012.
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Harris Teeter sees 2Q sales boost
CHARLOTTE, N.C. — Supermarket retailer Harris Teeter experienced a boost in second-quarter sales, as well as sales for the first half of fiscal year 2012, the company said.
Sales for the second quarter ended April 1, sales rose 6.7% to $1.12 billion, compared with the year-ago period, while the 26-week period experienced a sales boost of 7.6% to $2.24 billion, compared with the same period last year.