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Ruddick income drops for the year


Charlotte, N.C. Ruddick Corp. reported that its income for the year ended Sept. 27 dropped to $86 million from $96.8 million in 2008.

Ruddick is the parent of supermarket chain company Harris Teeter Inc. and American & Efird Inc., a thread and specialty yarn maker.

Sales in 2009 rose 2.1% to $4.08 billion, due in part to a 4.4% increase in sales at Harris Teeter, which posted revenue of $3.83 billion. Those gains partially offset a decline in sales at American & Efird, which had revenue of $250.8 million in fiscal 2009, down from $327.6 million the previous year.

During 2008, Harris Teeter opened 15 stores, closed two and completed a major remodeling of three stores.

As of Sept. 27, the chain operated 189 stores.

In the fiscal fourth quarter, Ruddick’s net income decreased to $23.6 million from $24.8 million in the same period last year.

Sales for the fourth quarter rose 2.1% to $1.05 billion.

The rise in total sales was driven by a Harris Teeter revenue increase of 3.8% to $984.5 million. That partially offset a sales decline to $63.5 million at A&E from $77.7 million in the fourth quarter of fiscal 2008.

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