Harris Teeter 1998 Annual Report Download

Download and view the complete annual report

Please find the complete 1998 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 23

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23

Ruddick.
Harris Teeter
|
American & Efird
Ruddick Corporation 1998 Annual Report
This Is

Table of contents

  • Page 1
    Ruddick Corporation 1998 Annual Report Ruddick. Harris Teeter | American & Efird This Is

  • Page 2
    ...subsidiaries. Its corporate and subsidiary offices are in or near Charlotte, North Carolina. Harris Teeter is a regional supermarket chain serving an expanding market in the southeastern United States. The company built its reputation on providing clean stores, superior customer service, the highest...

  • Page 3
    ... Harris Teeter American & Efird ESOP & Dividend Reinvestment and Stock Purchase Plan Financial Review Directors & Officers Shareholder Information Why It Works. Ruddick has provided shareholders with long-term value by creating recognized leaders in its chosen markets. Complementary Business...

  • Page 4
    ... 92 93 94 95 96 97 98 Sales In Billions of Dollars 48 43 39 47 1.02 1.00 .92 .84 .67 .22 .25 .26 .32 .32 32 94 95 96 97 98 94 95 96 97 98 94 95 96 97 98 Net Income In Millions of Dollars Earnings Per Share In Dollars Dividends In Dollars Per Share

  • Page 5
    ... In Millions of Dollars Ruddick Corporation | Financial Highlights (Dollars in thousands, except per share data) 1998 $2,487,370 94,196 1997 $2,300,089 94,836 1996 $2,142,501 83,143 1995 $2,009,776 76,728 1994 $1,855,896 63,948 This Is Ruddick. 1998 Annual Report Net Sales Total Operating Pro...

  • Page 6
    ... Important Customer (VIC) card, now over 18 months old, is helping improve Harris Teeter's pricing image and highlighting the value we offer our customers. Other ongoing and innovative promotional activities also contributed to Harris Teeter's strong sales performance. Harris Teeter management was...

  • Page 7
    ... high levels of service, cleanliness, product variety and freshness for which we are so well known. In the stores, better and faster systems capitalize on the improved data generated by the VIC card and provide merchandising management with greater information for category management and to market...

  • Page 8
    ...store sales growth attests to the continuing customer acceptance of our concept. And A&E continues to be ready to service our customers worldwide, as international business expands. We have carried out our commitment to communicate more with our shareholders, and we are gratified to see more market...

  • Page 9
    ... resources to help us identify and quantify industry best practices and begin implementing them in all of our stores. 7 This Is Ruddick. 1998 Annual Report 182 170 142 136 100 94 93 94 95 96 97 98 Cumulative Total Return* In Dollars $100 invested in Ruddick Corporation common stock...

  • Page 10
    ..., SEC reporting, the 401(k) plan and other employee benefits, subsidiary management is left free to focus strictly on operations. Over the years, A&E has contributed a significant share of Ruddick's operating profit and supplied excess cash ï¬,ow to support the aggressive growth of Harris Teeter...

  • Page 11
    ...Ruddick stock through our ESOP and, additionally, management owns another 11%; we have the very best personal incentives to help enhance shareholder value. A&E's significant capital expenditures each year ensure state-of-the-art equipment and technology, which provide a clear competitive advantage...

  • Page 12
    ...scal 1998 they increased to 4.8% from .1% for fiscal 1997. pricing and emphasized our commitment to fresh products and full shelves during peak sales periods. Other promotional programs built excitement in our neighborhoods and rewarded customers for buying Harris Teeter private label products. We...

  • Page 13
    ...by State â- North Carolina â- South Carolina â- Virginia â- Georgia â- Tennessee Average Weekly Sales Per Store* In Thousands of Dollars * Computed on the basis of aggregate sales of stores open for a full year. Date Founded Number of Stores Total Square Footage Average Weekly Sales Per Store

  • Page 14
    .... In early fiscal 1999, Harris Teeter will open our first smaller prototype, located on a popular route home from the downtown area in Charlotte, North Carolina. While focusing on prepared and takeout foods, this new 11,900 square foot store will also carry an assortment of dry groceries. In May...

  • Page 15
    ... advertising activities, including customer acceptance and use of the VIC card and the special programs associated with it. 94 95 96 97 98 13 This Is Ruddick. 1998 Annual Report Average Square Footage Per New Store Opened In Thousands In fiscal 1998, Harris Teeter's new store average size...

  • Page 16
    ...Presidents Craig Stover (Finance), Ron Ensley (Manufacturing) and Les Miller (Sales) lead a group of experienced, motivated and skilled associates at A&E who strive to continually enhance the quality of thread and its delivery to customers worldwide. 14 Ruddick Corporation and Subsidiaries either...

  • Page 17
    ... than our competitors' products. Operations Overview Total Sales Associates $355,147,000 3,400 1891 United States, Mexico, Canada, China and 10 other countries in Latin America, Asia and Europe 15 This Is Ruddick. 1998 Annual Report Quality Uninterrupted sewing performance and consistency of...

  • Page 18
    ... USA. We improved customer service levels through better 16 Ruddick Corporation Productivity A&E is committed to maintaining clean and efficient plants, with state-of-theart equipment. Our investments continue to result in annual growth in pounds produced per labor hour. During fiscal 1998...

  • Page 19
    ... and development efforts. production planning, replenishment and distribution. As a result, the company reduced inventories in 1998 by 15%. Further synergies and improvements in customer service are expected to be realized in fiscal 1999. In order to better service A&E's expanding business in...

  • Page 20
    ...'s return on equity, as well as associate wages and years of service. Ruddick believes strongly in the concept of employee ownership. We believe that employee/owners are more dedicated to their work, produce better products and furnish better service to customers because they have a true vested...

  • Page 21
    ... - Investor Relations Mickey F. Frye Vice President Fresh Foods Ray V. Revels Group Vice President Manufacturing John Eapen Belk Stores Services, Inc. Edwin B. Borden, Jr. President Assistant Treasurer and Assistant Secretary Harris Teeter Fred J. Morganthall, II Vice President Distribution...

  • Page 22
    ... Information Corporate Address Stock Transfer Agent and Registrar Annual Meeting 1800 Two First Union Center Charlotte, NC 28282 704 | 372-5404 Subsidiaries Wachovia Shareholder Services c/o Boston EquiServe Shareholders/Shares Outstanding Harris Teeter, Inc. P.O. Box 33129 Charlotte, NC...

  • Page 23
    Ruddick Corporation 1800 Two First Union Center Charlotte, NC 28282 704|372-5404 www.ruddickcorp.com