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

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Textiles | On 20th Jul 2017

Ethiopia seeks Indian investment in textile industry

Ethiopia, one of the fastest growing countries of Africa, is seeking...

Textiles | On 20th Jul 2017

Afghan govt calls for plans to revive textile industry

The Government of Afghanistan has asked industrialists to present...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

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...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X