Harris Teeter Scales Back Expansion Plans
Charlotte, N.C. Harris Teeter said it plans to scale back on store openings and remodeling for the remainder of fiscal 2009, which ends Sept. 28.
The company said it plans to open 16 stores and remodel another in fiscal 2009, down from the company’s plans filed in the fall with the Securities and Exchange Commission to open 17 stores and complete four remodels.
In August, Harris Teeter planned to open 19 stores and remodel eight.
Parent company Ruddick Corp. has cited the down economy for the reason for the move.
During the first quarter of fiscal 2009, Harris Teeter didn’t open any new stores or close any existing stores. However, it remodeled two stores.