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Ruddick realizes increased customer visits
04 Feb '11
5 min read
Thomas W. Dickson, Chairman of the Board, President and Chief Executive Officer of Ruddick Corporation commented that, "We are pleased to report the positive comparable store sales of 2.21% for the first quarter of fiscal 2011. This was accomplished by driving customer shopping visits and loyalty through our investments in our lower everyday prices coupled with weekly promotional activity. During the first quarter of fiscal 2011, we realized increased customer visits and an increase in the number of items sold.
“In addition, our customer loyalty data indicates that the number of active households increased by 2.22% per comparable store. We were encouraged by the indication of a more positive change in our customers' purchasing habits. During the quarter we realized higher growth in sales of items such as organic milk, premium beef, imported cheese and bakery products.
“We also continue to benefit from operational efficiencies and cost saving initiatives across all areas of the business. This resulted in a 20 basis points improvement in selling, general and administrative expenses as a percent of sales from the first quarter of last year and allowed Harris Teeter to maintain its operating margin at last year's rate of 4.35% of sales."
“A&E will continue to participate in the South African market through a licensing arrangement. The increase in sales contributed to improved operating schedules at most of A&E's manufacturing facilities. Improved operating results were also realized through cost reduction measures taken in prior years.
Mr. Dickson said, "We continue to be encouraged by A&E's operating results and the rebound in sales that resulted from improvements in retail sales of apparel as well as higher sales of automobiles. First quarter sales at A&E's Asian operations increased 20% from fiscal 2010 to fiscal 2011. In addition, over 65% of the finished goods produced during the first quarter of fiscal 2011 were manufactured at A&E's Asian facilities, including its joint ventures.
“A&E continues to expand its manufacturing capacity in Asia to support its growth in sales and market share in this vibrant market. A&E's success in consolidating manufacturing capacities and reducing operating and overhead costs in the U.S. and Europe have contributed to the improvement in profitability. We will continue to enhance our international operations and evaluate A&E's structure to best position A&E to take advantage of opportunities available through these operations."
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“In addition, our customer loyalty data indicates that the number of active households increased by 2.22% per comparable store. We were encouraged by the indication of a more positive change in our customers' purchasing habits. During the quarter we realized higher growth in sales of items such as organic milk, premium beef, imported cheese and bakery products.
“We also continue to benefit from operational efficiencies and cost saving initiatives across all areas of the business. This resulted in a 20 basis points improvement in selling, general and administrative expenses as a percent of sales from the first quarter of last year and allowed Harris Teeter to maintain its operating margin at last year's rate of 4.35% of sales."
“A&E will continue to participate in the South African market through a licensing arrangement. The increase in sales contributed to improved operating schedules at most of A&E's manufacturing facilities. Improved operating results were also realized through cost reduction measures taken in prior years.
Mr. Dickson said, "We continue to be encouraged by A&E's operating results and the rebound in sales that resulted from improvements in retail sales of apparel as well as higher sales of automobiles. First quarter sales at A&E's Asian operations increased 20% from fiscal 2010 to fiscal 2011. In addition, over 65% of the finished goods produced during the first quarter of fiscal 2011 were manufactured at A&E's Asian facilities, including its joint ventures.
“A&E continues to expand its manufacturing capacity in Asia to support its growth in sales and market share in this vibrant market. A&E's success in consolidating manufacturing capacities and reducing operating and overhead costs in the U.S. and Europe have contributed to the improvement in profitability. We will continue to enhance our international operations and evaluate A&E's structure to best position A&E to take advantage of opportunities available through these operations."
Click here for more details
Ruddick Corporation
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