Harris Teeter 2011 Annual Report Download - page 9

Download and view the complete annual report

Please find page 9 of the 2011 Harris Teeter annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 116

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116

Item 2. Properties
The executive office of the Company is located in a leased space of a downtown office tower at 301 S. Tryon Street, Suite
1800, Charlotte, North Carolina, 28202.
Harris Teeter owns its principal offices near Charlotte, North Carolina, a 517,000 square foot distribution facility east of
Charlotte, a 1,438,000 square foot distribution facility in Greensboro, North Carolina, and a 90,500 square foot dairy processing
plant in High Point, North Carolina. Both distribution facilities contain dry grocery warehousing space and refrigerated storage
for perishable goods. In addition, the Greensboro facility has frozen goods storage and a single pick facility for health and beauty
care products and other general merchandise. Harris Teeter operates its retail stores primarily from leased properties. As of the
end of fiscal 2011, Harris Teeter held title to the land and buildings of four of its supermarkets. The remaining supermarkets
are either leased in their entirety or the building is owned and situated on leased land. In addition, Harris Teeter holds interest
in properties that are under development for store sites. Harris Teeter’s supermarkets range in size from approximately 16,200
square feet to 72,900 square feet, with an average size of approximately 48,100 square feet.
The following table sets forth selected statistics with respect to Harris Teeter stores for each of the last three fiscal years:
2011 2010 2009
Stores Open at Period End 204 199 189
Average Weekly Net Sales Per Store* $ 403,107 $ 395,510 $ 405,356
Average Square Footage Per Store at Period End 48,129 47,792 47,277
Average Square Footage Per New Store Opened During Period 52,980 50,312 51,698
Total Square Footage at Period End 9,818,232 9,510,688 8,935,271
____________
* Computed on the basis of aggregate sales of stores open for a full year.
The Company believes its facilities and those of Harris Teeter are adequate for its current operations. However, additional or
expanded facilities may be required in strategic regions to support growth in the future.
Item 3. Legal Proceedings
The Company and Harris Teeter are involved in various legal matters from time to time in connection with their operations,
including various lawsuits and patent and environmental matters. These matters considered in the aggregate have not had, nor
does the Company expect them to have, a material effect on the Company’s results of operations, financial position or cash flows.
Item 4. [Removed and Reserved]
Item 4A. Executive Officers of the Registrant
The following list contains the name, age, positions and offices held and period served in such positions or offices for each
of the executive officers of the Registrant.
Thomas W. Dickson, age 56, is the Chairman of the Board of Directors, President and Chief Executive Officer of the
Company, and has been Chairman of the Board of Directors since March 2006 and President and principal executive
officer since February 1997. Prior to that time, he served as Executive Vice President of the Company from February
1996 to February 1997. Prior to that time, from February 1994 to February 1996 he served as President of, and from
February 1991 to February 1994 he served as Executive Vice President of, the Company’s former A&E subsidiary.
John B. Woodlief, age 61, is the Vice President – Finance and Chief Financial Officer of the Company, and has been
the Vice President – Finance and principal financial officer of the Company since November 1999. Prior to that time,
he served as a partner in PricewaterhouseCoopers since 1998 and a partner in Price Waterhouse from 1985 to 1998.
He served as Managing Partner of the Charlotte, North Carolina office of Price Waterhouse and
PricewaterhouseCoopers from January of 1997 to June of 1999. He joined Price Waterhouse in 1972.
Frederick J. Morganthall, II, age 60, was elected President of Harris Teeter on October 30, 1997. Prior to that time,
and beginning in October 1996, he served as Executive Vice President of Harris Teeter. He was also Harris Teeter’s
Senior Vice President of Operations from October 1995 to October 1996, Vice President of Operations from April
1994 to October 1995 and Vice President of Sales and Distribution from October 1992 to April 1994.
5