Home / Knowledge / News / Textiles / American & Efird sales decline for Q1 2008
American & Efird sales decline for Q1 2008
01
Feb '08
Ruddick Corporation reported that consolidated sales for the first quarter of fiscal 2008 ended December 30, 2007 increased by 10.9% to $976.7 million from $880.8 million in the first quarter of fiscal 2007. The increase in sales during the quarter was attributable to sales increases at the Company's Harris Teeter supermarket subsidiary that were offset, in part, by a sales decline at the Company's American & Efird ("A&E") sewing thread and technical textiles subsidiary.

In the first quarter of fiscal 2008, consolidated net income was $23.3 million, or $0.48 per diluted share, compared to $18.3 million, or $0.38 per diluted share, in the prior year's first quarter. The 27.6% increase in net earnings over the prior year was driven by improved operating profit at Harris Teeter.

Harris Teeter's sales increased by 12.6% to $896.6 million in the first quarter of fiscal 2008 compared to sales of $796.3 million in the first quarter of fiscal 2007. The increase in sales was attributable to new store activity, partially offset by store closings and divestitures, and a comparable store sales increase of 4.40% for the quarter.

During the first quarter of fiscal 2008, Harris Teeter opened two new stores and completed the remodeling and expansion of one store. Since the end of the first quarter of fiscal 2007, Harris Teeter has opened 16 new stores while closing or divesting 5 stores for a net addition of 11 stores. Harris Teeter operated 166 stores at December30, 2007.

Must ReadView All

Apparel/Garments | On 29th May 2017

Christopher & Banks Corporation Q1 2017 sales down 11.5%

The net sales of Christopher & Banks Corporation for the first...

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search