Harris Teeter 2002 Annual Report Download - page 13
Download and view the complete annual report
Please find page 13 of the 2002 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.-
1 -
2
-
3 -
4 -
5 -
6 -
7 -
8 -
9 -
10 -
11 -
12 -
13 -
14 -
15 -
16 -
17 -
18
 |
 |
During fiscal 2002 we accomplished two major
objectives. We consolidated our finishing plants here
in the U.S. This was a major accomplishment and
significantly reduced our costs, putting us in position
to achieve profits even in this period of severely
restricted sales.
We also completed the relocation of our dyeing
facility from Hong Kong to China and closed our less
efficient Hong Kong facility during our third fiscal
quarter, a move that not only reduced our cost
structure, but also increased our productive capacity.
In addition to increasing our geographic reach,
our new China facility provides us with an expanded
opportunity to penetrate additional markets. As an
example, we have installed bonding equipment in
our facility in China, allowing A&E to produce
thread for both apparel and non-apparel
applications and thereby compete for additional
business.
The thread business is highly competitive from a
variety of perspectives, and A&E is successfully
meeting the challenges. In addition to lowering our
cost structure and rationalizing our plants, we have
moved forward with initiatives that make us more
Ruddick Corporation and Subsidiaries
annual report 2002
page
9
Total Sales
In Millions of Dollars
Operating Profit
In Millions of Dollars
98 99 00 01 02 98 99 00 01 02
365 361 359 326 295 42.1 48.6 47.5 23.7120.31
1 before non-recurring
items.
~Serving Customers Globally~