Harris Teeter 2004 Annual Report Download - page 5

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PG
2Ruddick Corporation & Subsidiaries Annual Report ’04
Harris Teeter has had considerable success this past year in attracting new customers as well
as retaining existing customers, resulting in a comparable stores sales gain of 2.97%, one of
the highest gains among supermarket retailers.
We strive to know and understand the demographic makeup of our customers as well as
their needs, and have embarked on strategies to give them the highest possible level of
service while providing significant values through our promotional programs.
We believe our Very Important Customer (VIC) rewards program is one of the most
successful in the industry, creating customer loyalty through special pricing, product
giveaways and sweepstakes.
In addition, the knowledge we gather about our customers’ buying habits as well as current
trends, allows us to anticipate their needs and merchandise our different departments
accordingly, providing superior variety and selection.
We have continued to adapt our stores to provide an enjoyable shopping experience for our
customers. Our ever-improving new store design and our aggressive remodel programs keep
our stores looking new and inviting to our customers.
At the same time, we are constantly looking throughout our organization for ways to
improve efficiencies and reduce costs. All of these efforts have resulted in another year of
improved operating performance despite the ever-changing retail landscape.
American & Efird, as the world’s second-largest producer of sewing thread, is closely
tied to the fortunes of the apparel industry, which has been significantly impacted by
increasing globalization over the past decade. Shirts, suits, jackets, dresses, underwear,
blouses and skirts that used to be made in the United States are now put together nearly
half a globe away.
This environment will be further altered in 2005 as import quotas for apparel expire and
sourcing patterns by retailers change. American & Efird’s challenge is to follow our
customers while still retaining the high quality of product and service that is our
company’s hallmark.
Thomas W. Dickson
President and
Chief Executive Officer
John B. Woodlief
Vice President – Finance
and Chief Financial Officer
Fred J.Morganthall, II
President – Harris Teeter
Fred A. Jackson
President – American & Efird