Harris Teeter 2001 Annual Report Download

Download and view the complete annual report

Please find the complete 2001 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 18

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18

Ruddick Corporation
harris teeter american & efird
2001 annual report

Table of contents

  • Page 1
    Ruddick Corporation 2001 annual report harris teeter american & efird

  • Page 2
    ... Dollars Debt as a Percent of Capital Employed 33.1 31.6 30.7 32.1 25.7 Shareholders' Equity In Millions of Dollars 473.0 445.4 443.7 410.7 380.5 97 98 99 00 01 97 98 99 00 01 97 98 99 00 01 contents Letter 1 Harris Teeter 4 A&E 8 Directors and Officers 12 Shareholder Information...

  • Page 3
    ... Operating profit, net income, EBITDA and related returns are net of non-recurring charges at A&E of $2,105,000 ($1,285,000 after taxes), Harris Teeter of $45,035,000 ($27,370,000 after taxes) and a tax settlement with IRS of $20,000,000 which are more fully described in the Company's annual report...

  • Page 4
    1997 1996 1995 1994 1993(1) 1992 1991 $ 378,723 1,931,212 $ 317,261 1,833,042 $ 307,391 1,711,813 $ 287,643 1,578,880 $ 273,909 1,412,315 $ 250,673 1,270,430 $ 214,503 1,213,127 $ 2,309,935 $ 2,150,303 $ 2,019,204 $ 1,866,523 $ 1,686,224 $ 1,521,103 $ 1,427,630 $ ...

  • Page 5
    ... The fiscal year ended September 30, 2001 was very challenging for Ruddick Corporation. Reported earnings were disappointing, but that does not tell the entire story. We believe that your company took appropriate and important actions to create a solid foundation for future growth and to persevere...

  • Page 6
    ... and profitably. Harris Teeter's goals this year included driving sales and customer visits. To that end, we used our Very Important Customer ("VIC") card program to identify our loyal customers and provide them with incentives to shop regularly at Harris Teeter. This program also provides...

  • Page 7
    ... threads competitive from a pricing perspective and superior from a performance standpoint. We are dedicated to increasing sales at our Harris Teeter stores while improving customer satisfaction and employee productivity. As we look forward to fiscal 2002, Ruddick Corporation management is cautious...

  • Page 8
    ... Total Sales In Billions of Dollars 2.13 1.93 2.27 2.33 2.42 Operating Profit In Millions of Dollars 76.8(1) 52.1 45.7 55.5 59.1 97 98 99 00 01 97 98 99 00 (1) Before non-recurring charges. 01 Harris Teeter is known for its attractive stores. Produce and Fresh Foods are two departments...

  • Page 9
    ... our stores to provide the customer with a shopping experience that combines excellent customer service with a wide selection of high-quality food at a price that delivers value in a competitive environment. In July, we sold 26 stores, including all of our stores in the Atlanta, Georgia market, to...

  • Page 10
    ...stock, especially advertised specials. Our in-stock position improved in 2001, and provides us a solid base to build upon in coming years. Harris Teeter prides itself on its associates and the service that they provide our customers. The company continues to improve recruitment, hiring and training...

  • Page 11
    ... on those markets where we have proven our ability to compete. shopper program that provides us with valuable insights into how customers view their shopping experience with us and allows us to identify potential problems and address Ruddick Corporation & Subsidiaries Harris Teeter Pages 6.7

  • Page 12
    ... of our skill and management focus. Both relate to changes in our customer base, which has been shifting geographically and functionally. In recent years we have seen much of our domestic business move overseas for cost-related reasons. In order to maintain our competitive position, we have moved...

  • Page 13
    ... Dollars 379 365 361 359 326 Operating Profit In Millions of Dollars 49.2 42.1 48.6 47.5 23.7(1) 97 98 99 00 01 97 98 99 00 (1) Before non-recurring charges. 01 Spinning associate James Kinley monitors the manufacturing of polyester core thread at Gastonia Plant #56. Ruddick Corporation...

  • Page 14
    ...challenges that we addressed this are disappointed with the declining level of sales and profits at A&E, we believe this should be viewed in the context of adverse industry conditions. We are working diligently to position ourselves to benefit when general economic conditions improve. Unfortunately...

  • Page 15
    ... conservative in our outlook for 2002 and believe that it will be difficult to increase earnings in the current environment, but we will continue to work to improve our competitive position and will be ready when the economy turns up again. Ruddick Corporation & Subsidiaries American & Efird...

  • Page 16
    ... & CEO Bank of America Corporation Anna Spangler Nelson President C.D. Spangler Construction Co. Harold C. Stowe President & CEO Canal Holdings, LLC Isaiah Tidwell Georgia Wealth Management Director and Executive Vice President Wachovia Corporation Corporate Officers Alan T. Dickson Chairman...

  • Page 17
    ...Information on this plan may be obtained by calling Ruddick Corporation at 704.372.5404. Subsidiaries Harris Teeter, Inc. 701 Crestdale Drive Matthews, NC 28105 704.844.3100 American & Efird, Inc. P.O. Box 507 Mount Holly, NC 28120 704.827.4311 Employee Stock Ownership Plan Ruddick has an Employee...

  • Page 18
    ... owned subsidiaries - Harris Teeter, a leading regional supermarket chain, and American & Efird, one of the world's largest manufacturers and distributors of sewing thread for industrial and consumer markets. Ruddick Corporation | 301 S. Tryon Street | Suite 1800 | Charlotte, NC 28202 | 704...