Ruddick Corporation Reports Second Quarter Earnings

Apr 24, 2001, 01:00 ET from Ruddick Corporation

    CHARLOTTE, N.C., April 24 /PRNewswire Interactive News Release/ -- Ruddick
 Corporation (NYSE:   RDK) today reported that consolidated sales for the second
 fiscal quarter ended April 1, 2001 rose 4.5% to $692 million from $662 million
 a year earlier.  For the six months ended April 1, 2001, sales of $1.4 billion
 were 6.0% above the $1.3 billion for the comparable period last year.
     During the second quarter of fiscal 2001, the company announced a one-time
 tax charge of $20 million or $.43 a share to reflect the terms of settlement
 with the Internal Revenue Service ("IRS") for tax exposure related to the
 disallowance of deductions for its corporate owned life insurance ("COLI")
 policy loan interest for all years of the insurance program.  The agreement
 provided for the surrender of the related insurance policies, thereby
 eliminating future negative exposure associated with the COLI program.  The
 settlement was previously disclosed by the company in its filings with the
 United States Securities and Exchange Commission and in a press release dated
 April 4, 2001.
     Excluding the one-time income tax charge described above, the company
 reported earnings per diluted share of $.27 for the second fiscal quarter as
 compared to $.29 for the comparable period last year.  This was slightly
 better than the consensus of analyst estimates of $.25 per share as reported
 by First Call.  Consolidated net income, excluding the income tax charge,
 declined 4.7% to $12.7 million for the second fiscal quarter from the $13.4
 million in the prior year.  The company reported that the decline in earnings
 before the one-time tax charge was wholly attributed to the weak business
 conditions at American & Efird (A&E), Ruddick's thread manufacturing
 subsidiary, and that Harris Teeter, Ruddick's supermarket subsidiary,
 experienced very strong operating profit.  Including the one-time income tax
 charge, the company reported a loss in the quarter of $7.3 million or $.16 per
 diluted share.
     For the six-months ended April 1, 2001, consolidated net income excluding
 the one-time income tax charge for COLI declined by 10.4% to $23.9 million, or
 $.52 per share, from $26.7 million or $.58 per share for the previous year's
 six-month period.  Including the COLI adjustment, consolidated net income was
 $3.9 million or $.08 per share for the six-month period.
     Harris Teeter continued to improve its operating profitability.  Thomas W.
 Dickson, President of Ruddick indicated, "The operating performance of Harris
 Teeter during the quarter exceeded that of any quarterly period over the last
 ten years."  The improvement in profitability reflects improvement in
 comparable store sales, the positive impacts of productivity initiatives and
 enhanced waste prevention measures.  Total sales for Harris Teeter rose 5.9%
 to $607.8 million in the quarter and 7.2% to $1.24 billion for the first half
 of the year.  Comparable store sales rose 1.6% for the quarter and are up 2.0%
 for the year to date.  Dickson said, "We are pleased that our investments in
 promotional programs are yielding positive results and we plan to continue to
 be aggressive on this front. We realize it is critical that the customer
 transactions we bring into the stores with our promotions be profitable.  Our
 management is clearly focused on managing inventory levels and shrinkage.  The
 success of these and other cost control initiatives, combined with in-store
 productivity, allows us to offset the additional costs of increased
 promotional activity."
     Operating profit at Harris Teeter of $18.7 million in the second quarter
 of fiscal 2001 increased by 19% over the previous year's second quarter and
 for the first six months increased to $35.2 million, or 12% over the
 comparable period last year.  Operating margin on sales improved to 3.08% in
 the second quarter of 2001 as compared to 2.75% in fiscal 2000.  Dickson
 commented, "Operating margins have shown improvement and we believe that this,
 combined with same store sales gains is significant given the competitive
 environment in the southeast."  The company reports that it continues to
 observe uneven sales results in non-core markets which has moderated the
 improving performance.  The company continues to develop specifically targeted
 merchandising and promotional programs in these markets and has taken other
 steps to improve their operating impact on the company.
     During the quarter, Harris Teeter opened one new store in its Raleigh,
 N.C. market for a total of 161 stores in operation at the end of the second
 quarter.  Harris Teeter expects to open five new stores, including one
 replacement store, in the second half of the year.
     A&E's sales of $84.2 million in the 2001 fiscal second quarter were down
 5% from the $88.6 million for the same quarter last year.  A&E's total sales
 of $166.2 million for the first six months of fiscal 2001 decreased 2.7% from
 the prior-year period when sales were $170.7 million.  Dickson commented,
 "Business conditions were weak throughout the quarter because of the decline
 in retail sales and associated manufacturing activity.  The economic downturn
 affected all of A&E's major product sectors, including apparel, automotive and
 home furnishings.
     "During the quarter, we announced the consolidation of our consumer
 manufacturing operations into one existing facility, and we will complete that
 move in the third quarter.  We also announced the closing of one distribution
 center and the consolidation of one of our notions divisions."  Despite staff
 reductions and other cost containment measures, operating results at A&E were
 adversely impacted by the sales weakness.  Compared to the same period last
 year, A&E's operating profit decreased by 33% to $8.0 million for the quarter
 and by 32% to $16.3 million year to date.  In addition, the operating margin
 on sales decreased from 13.6% in the fiscal 2000 second quarter to 9.5% in the
 current quarter, and for the six-month period, from 13.9% last year to 9.8% in
 2001.
     Dickson stated,  "Although sales outside the United States were also
 negatively impacted by a slowing of demand, foreign sales grew 19% and
 continue to represent a tremendous growth opportunity for A&E.  As production
 by A&E's customers moves out of the U.S. and into Mexico, the Caribbean and
 Central America due to NAFTA and the U.S.-Caribbean Basin Trade Partnership
 Act, A&E continues to gain business in these regions.  Additionally, a new
 dyeing and finishing facility in southern China is on schedule to be completed
 by the end of this fiscal year."
     Dickson continued, "Business conditions for A&E remain weak and it will be
 difficult to improve profitability.  Results in the third quarter are not
 expected to be substantially different from the second quarter.  However,
 there are indications that inventories in the supply chain appear to be in
 good shape, which has some of our customers optimistic that any improvement in
 retail sales could boost their business quickly.  A&E management continues to
 be firmly focused on optimizing costs.  This includes consolidation and
 downsizing as necessary.  Sales, profit projections, and capital spending
 plans are being revised downward for the remainder of the year."
     During the second quarter, depreciation and amortization for Ruddick
 Corporation totaled $20.9 million and capital expenditures totaled $20.5
 million.  During the quarter Harris Teeter spent $15.2 million in capital
 expenditures, down from the $22.7 million it spent in the first quarter.  This
 decline is consistent with Harris Teeter's announced intent to reduce spending
 for the year to $67 million, 33% below last year's level.  Harris Teeter will
 focus new store opportunities in future periods in its core markets.  A&E's
 capital expenditures were reduced in the second quarter to $5.3 million from
 $6.5 million in its first fiscal quarter.  A&E is estimating capital spending
 of less than $25 million for the year which includes the new China facility.
 This is down from $27 million estimated at the end of the first quarter.  Our
 companies have reduced capital spending to maintain financial flexibility in
 response to uncertain economic conditions.
 
     This news release contains forward-looking statements that involve
 uncertainties.  A discussion of various important factors that could cause
 results to differ materially from those expressed in such forward-looking
 statements is shown in reports filed by the Company with the Securities and
 Exchange Commission and include: generally adverse economic and industry
 conditions; changes in the competitive environment; economic or political
 changes in countries where the Company operates; the passage of future adverse
 tax legislation, or any negative regulatory or judicial position which
 prevails; management's ability to predict the adequacy of the Company's
 liquidity to meet future requirements; changes in the Company's capital
 expenditures and store openings and closings; and the extent and speed of the
 successful execution of strategic initiatives in each of the operating
 companies.
     Ruddick Corporation is a holding company which operates two subsidiaries:
 Harris Teeter, Inc., a regional chain of supermarkets in six southeastern
 states and American & Efird, Inc., a leading manufacturer and distributor of
 industrial sewing thread.
     Selected information regarding Ruddick Corporation and its subsidiaries is
 attached.  For more information on Ruddick Corporation, visit our web site at:
 www.ruddickcorp.com.
 
 
                              RUDDICK CORPORATION
                         SUMMARY OF SALES AND EARNINGS
                                  (Unaudited)
                                 (In thousands)
 
 
                                        Quarter Ended      Six Months Ended
                                      April 1,   April 2,  April 1,   April 2,
                                       2001       2000       2001      2000
 
     Net Sales
       American & Efird               $84,172   $88,559   $166,200    $170,746
       Harris Teeter                  607,759   573,760  1,240,695   1,157,030
         Total                        691,931   662,319  1,406,895   1,327,776
 
     Gross Profit
       American & Efird                23,110    26,627     45,942      51,568
       Harris Teeter                  169,517   161,482    340,563     324,847
         Total                        192,627   188,109    386,505     376,415
 
     Operating Profit
       American & Efird                 8,038    12,073     16,262      23,743
       Harris Teeter                   18,740    15,781     35,171      31,535
         Total                         26,778    27,854     51,433      55,278
 
     Other Costs and Deductions
       Interest expense, net            3,920     3,750      8,006       7,586
       Other expense, net               1,583     1,812      3,104       3,269
       Minority interest                  393       194        811         335
         Total                          5,896     5,756     11,921      11,190
 
     Income before taxes               20,882    22,098     39,512      44,088
     Taxes                             28,144     8,737     35,585      17,370
     Net income                       ($7,262)  $13,361     $3,927     $26,718
 
     Earnings Per Share - Basic         ($.16)     $.29       $.08        $.58
     Weighted Average Number of Basic
      Shares Outstanding               46,268    46,283     46,255      46,337
     Earnings Per Share - Diluted       ($.16)     $.29       $.08        $.58
     Weighted Average Number of
      Diluted Shares Outstanding       46,330    46,344     46,307      46,453
 
 
 
                              RUDDICK CORPORATION
                          CONSOLIDATED BALANCE SHEETS
                                  (Unaudited)
                                 (In thousands)
 
                                                      April 1,        April 2,
                                                       2001            2000
 
     ASSETS
     Current assets
       Cash and temporary cash investments           $20,145          $15,876
       Accounts receivable, net                       73,845           84,679
       Inventories                                   240,848          239,305
       Other                                          38,622           33,900
           Total current assets                      373,460          373,760
     Property, net of accumulated
      depreciation                                   587,817          549,742
     Investments and other assets                     72,865           73,839
 
           Total Assets                           $1,034,142         $997,341
 
     LIABILITIES AND SHAREHOLDERS' EQUITY
     Current liabilities
       Notes payable                                  $1,165              $14
       Current portion of long-term debt                 314            2,905
       Accounts payable and accrued
        expenses                                     230,335          212,450
       Income taxes payable                           24,822           11,877
           Total current liabilities                 256,636          227,246
     Long-term debt                                  212,271          220,755
     Deferred income taxes and liabilities            87,645           86,557
     Minority interest                                 8,949            4,900
     Shareholders' equity                            468,641          457,883
 
           Total Liabilities and Equity           $1,034,142         $997,341
 
 
 
     Operating Statistics*
     April 1, 2001
    (Dollars in millions)
                                                                   Consolidated
                                             American     Harris      Ruddick
                                              & Efird     Teeter   Corporation
     2nd Quarter 2001
     Earnings before interest, taxes,
          depreciation and amortization
           (EBITDA)                            $12.9      $34.0        $45.7
     Depreciation and amortization               5.3       15.3         20.9
     Capital expenditures                        5.3       15.2         20.5
     Working capital increase (decrease)        (1.4)     (25.9)       (29.1)
     Total assets                              297.9      696.3      1,034.1
     Capital employed+                         222.7      424.8        690.2
     Stores in operation                         n/a        161          161
 
     Year To Date
     Earnings before interest, taxes,
          depreciation and amortization
           (EBITDA)                            $25.6      $65.7        $88.9
     Depreciation and amortization              10.2       30.5         41.4
     Capital expenditures                       11.8       37.9         49.7
     Working capital increase (decrease)         3.2      (36.0)       (16.1)
     Total assets                              297.9      696.3      1,034.1
     Capital employed+                         222.7      424.8        690.2
     Stores in operation                         n/a        161          161
 
 
      *  Due to the activities of Ruddick's corporate headquarters, the
         operating statistics by subsidiary are not additive.
      +  Long-term debt including current portion, capital leases, minority
         interests and shareholders' equity.
 
     Contact: John B. Woodlief, Vice President -- Finance of Ruddick
 Corporation, 704-372-5404.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X44786133
 
 

SOURCE Ruddick Corporation
    CHARLOTTE, N.C., April 24 /PRNewswire Interactive News Release/ -- Ruddick
 Corporation (NYSE:   RDK) today reported that consolidated sales for the second
 fiscal quarter ended April 1, 2001 rose 4.5% to $692 million from $662 million
 a year earlier.  For the six months ended April 1, 2001, sales of $1.4 billion
 were 6.0% above the $1.3 billion for the comparable period last year.
     During the second quarter of fiscal 2001, the company announced a one-time
 tax charge of $20 million or $.43 a share to reflect the terms of settlement
 with the Internal Revenue Service ("IRS") for tax exposure related to the
 disallowance of deductions for its corporate owned life insurance ("COLI")
 policy loan interest for all years of the insurance program.  The agreement
 provided for the surrender of the related insurance policies, thereby
 eliminating future negative exposure associated with the COLI program.  The
 settlement was previously disclosed by the company in its filings with the
 United States Securities and Exchange Commission and in a press release dated
 April 4, 2001.
     Excluding the one-time income tax charge described above, the company
 reported earnings per diluted share of $.27 for the second fiscal quarter as
 compared to $.29 for the comparable period last year.  This was slightly
 better than the consensus of analyst estimates of $.25 per share as reported
 by First Call.  Consolidated net income, excluding the income tax charge,
 declined 4.7% to $12.7 million for the second fiscal quarter from the $13.4
 million in the prior year.  The company reported that the decline in earnings
 before the one-time tax charge was wholly attributed to the weak business
 conditions at American & Efird (A&E), Ruddick's thread manufacturing
 subsidiary, and that Harris Teeter, Ruddick's supermarket subsidiary,
 experienced very strong operating profit.  Including the one-time income tax
 charge, the company reported a loss in the quarter of $7.3 million or $.16 per
 diluted share.
     For the six-months ended April 1, 2001, consolidated net income excluding
 the one-time income tax charge for COLI declined by 10.4% to $23.9 million, or
 $.52 per share, from $26.7 million or $.58 per share for the previous year's
 six-month period.  Including the COLI adjustment, consolidated net income was
 $3.9 million or $.08 per share for the six-month period.
     Harris Teeter continued to improve its operating profitability.  Thomas W.
 Dickson, President of Ruddick indicated, "The operating performance of Harris
 Teeter during the quarter exceeded that of any quarterly period over the last
 ten years."  The improvement in profitability reflects improvement in
 comparable store sales, the positive impacts of productivity initiatives and
 enhanced waste prevention measures.  Total sales for Harris Teeter rose 5.9%
 to $607.8 million in the quarter and 7.2% to $1.24 billion for the first half
 of the year.  Comparable store sales rose 1.6% for the quarter and are up 2.0%
 for the year to date.  Dickson said, "We are pleased that our investments in
 promotional programs are yielding positive results and we plan to continue to
 be aggressive on this front. We realize it is critical that the customer
 transactions we bring into the stores with our promotions be profitable.  Our
 management is clearly focused on managing inventory levels and shrinkage.  The
 success of these and other cost control initiatives, combined with in-store
 productivity, allows us to offset the additional costs of increased
 promotional activity."
     Operating profit at Harris Teeter of $18.7 million in the second quarter
 of fiscal 2001 increased by 19% over the previous year's second quarter and
 for the first six months increased to $35.2 million, or 12% over the
 comparable period last year.  Operating margin on sales improved to 3.08% in
 the second quarter of 2001 as compared to 2.75% in fiscal 2000.  Dickson
 commented, "Operating margins have shown improvement and we believe that this,
 combined with same store sales gains is significant given the competitive
 environment in the southeast."  The company reports that it continues to
 observe uneven sales results in non-core markets which has moderated the
 improving performance.  The company continues to develop specifically targeted
 merchandising and promotional programs in these markets and has taken other
 steps to improve their operating impact on the company.
     During the quarter, Harris Teeter opened one new store in its Raleigh,
 N.C. market for a total of 161 stores in operation at the end of the second
 quarter.  Harris Teeter expects to open five new stores, including one
 replacement store, in the second half of the year.
     A&E's sales of $84.2 million in the 2001 fiscal second quarter were down
 5% from the $88.6 million for the same quarter last year.  A&E's total sales
 of $166.2 million for the first six months of fiscal 2001 decreased 2.7% from
 the prior-year period when sales were $170.7 million.  Dickson commented,
 "Business conditions were weak throughout the quarter because of the decline
 in retail sales and associated manufacturing activity.  The economic downturn
 affected all of A&E's major product sectors, including apparel, automotive and
 home furnishings.
     "During the quarter, we announced the consolidation of our consumer
 manufacturing operations into one existing facility, and we will complete that
 move in the third quarter.  We also announced the closing of one distribution
 center and the consolidation of one of our notions divisions."  Despite staff
 reductions and other cost containment measures, operating results at A&E were
 adversely impacted by the sales weakness.  Compared to the same period last
 year, A&E's operating profit decreased by 33% to $8.0 million for the quarter
 and by 32% to $16.3 million year to date.  In addition, the operating margin
 on sales decreased from 13.6% in the fiscal 2000 second quarter to 9.5% in the
 current quarter, and for the six-month period, from 13.9% last year to 9.8% in
 2001.
     Dickson stated,  "Although sales outside the United States were also
 negatively impacted by a slowing of demand, foreign sales grew 19% and
 continue to represent a tremendous growth opportunity for A&E.  As production
 by A&E's customers moves out of the U.S. and into Mexico, the Caribbean and
 Central America due to NAFTA and the U.S.-Caribbean Basin Trade Partnership
 Act, A&E continues to gain business in these regions.  Additionally, a new
 dyeing and finishing facility in southern China is on schedule to be completed
 by the end of this fiscal year."
     Dickson continued, "Business conditions for A&E remain weak and it will be
 difficult to improve profitability.  Results in the third quarter are not
 expected to be substantially different from the second quarter.  However,
 there are indications that inventories in the supply chain appear to be in
 good shape, which has some of our customers optimistic that any improvement in
 retail sales could boost their business quickly.  A&E management continues to
 be firmly focused on optimizing costs.  This includes consolidation and
 downsizing as necessary.  Sales, profit projections, and capital spending
 plans are being revised downward for the remainder of the year."
     During the second quarter, depreciation and amortization for Ruddick
 Corporation totaled $20.9 million and capital expenditures totaled $20.5
 million.  During the quarter Harris Teeter spent $15.2 million in capital
 expenditures, down from the $22.7 million it spent in the first quarter.  This
 decline is consistent with Harris Teeter's announced intent to reduce spending
 for the year to $67 million, 33% below last year's level.  Harris Teeter will
 focus new store opportunities in future periods in its core markets.  A&E's
 capital expenditures were reduced in the second quarter to $5.3 million from
 $6.5 million in its first fiscal quarter.  A&E is estimating capital spending
 of less than $25 million for the year which includes the new China facility.
 This is down from $27 million estimated at the end of the first quarter.  Our
 companies have reduced capital spending to maintain financial flexibility in
 response to uncertain economic conditions.
 
     This news release contains forward-looking statements that involve
 uncertainties.  A discussion of various important factors that could cause
 results to differ materially from those expressed in such forward-looking
 statements is shown in reports filed by the Company with the Securities and
 Exchange Commission and include: generally adverse economic and industry
 conditions; changes in the competitive environment; economic or political
 changes in countries where the Company operates; the passage of future adverse
 tax legislation, or any negative regulatory or judicial position which
 prevails; management's ability to predict the adequacy of the Company's
 liquidity to meet future requirements; changes in the Company's capital
 expenditures and store openings and closings; and the extent and speed of the
 successful execution of strategic initiatives in each of the operating
 companies.
     Ruddick Corporation is a holding company which operates two subsidiaries:
 Harris Teeter, Inc., a regional chain of supermarkets in six southeastern
 states and American & Efird, Inc., a leading manufacturer and distributor of
 industrial sewing thread.
     Selected information regarding Ruddick Corporation and its subsidiaries is
 attached.  For more information on Ruddick Corporation, visit our web site at:
 www.ruddickcorp.com.
 
 
                              RUDDICK CORPORATION
                         SUMMARY OF SALES AND EARNINGS
                                  (Unaudited)
                                 (In thousands)
 
 
                                        Quarter Ended      Six Months Ended
                                      April 1,   April 2,  April 1,   April 2,
                                       2001       2000       2001      2000
 
     Net Sales
       American & Efird               $84,172   $88,559   $166,200    $170,746
       Harris Teeter                  607,759   573,760  1,240,695   1,157,030
         Total                        691,931   662,319  1,406,895   1,327,776
 
     Gross Profit
       American & Efird                23,110    26,627     45,942      51,568
       Harris Teeter                  169,517   161,482    340,563     324,847
         Total                        192,627   188,109    386,505     376,415
 
     Operating Profit
       American & Efird                 8,038    12,073     16,262      23,743
       Harris Teeter                   18,740    15,781     35,171      31,535
         Total                         26,778    27,854     51,433      55,278
 
     Other Costs and Deductions
       Interest expense, net            3,920     3,750      8,006       7,586
       Other expense, net               1,583     1,812      3,104       3,269
       Minority interest                  393       194        811         335
         Total                          5,896     5,756     11,921      11,190
 
     Income before taxes               20,882    22,098     39,512      44,088
     Taxes                             28,144     8,737     35,585      17,370
     Net income                       ($7,262)  $13,361     $3,927     $26,718
 
     Earnings Per Share - Basic         ($.16)     $.29       $.08        $.58
     Weighted Average Number of Basic
      Shares Outstanding               46,268    46,283     46,255      46,337
     Earnings Per Share - Diluted       ($.16)     $.29       $.08        $.58
     Weighted Average Number of
      Diluted Shares Outstanding       46,330    46,344     46,307      46,453
 
 
 
                              RUDDICK CORPORATION
                          CONSOLIDATED BALANCE SHEETS
                                  (Unaudited)
                                 (In thousands)
 
                                                      April 1,        April 2,
                                                       2001            2000
 
     ASSETS
     Current assets
       Cash and temporary cash investments           $20,145          $15,876
       Accounts receivable, net                       73,845           84,679
       Inventories                                   240,848          239,305
       Other                                          38,622           33,900
           Total current assets                      373,460          373,760
     Property, net of accumulated
      depreciation                                   587,817          549,742
     Investments and other assets                     72,865           73,839
 
           Total Assets                           $1,034,142         $997,341
 
     LIABILITIES AND SHAREHOLDERS' EQUITY
     Current liabilities
       Notes payable                                  $1,165              $14
       Current portion of long-term debt                 314            2,905
       Accounts payable and accrued
        expenses                                     230,335          212,450
       Income taxes payable                           24,822           11,877
           Total current liabilities                 256,636          227,246
     Long-term debt                                  212,271          220,755
     Deferred income taxes and liabilities            87,645           86,557
     Minority interest                                 8,949            4,900
     Shareholders' equity                            468,641          457,883
 
           Total Liabilities and Equity           $1,034,142         $997,341
 
 
 
     Operating Statistics*
     April 1, 2001
    (Dollars in millions)
                                                                   Consolidated
                                             American     Harris      Ruddick
                                              & Efird     Teeter   Corporation
     2nd Quarter 2001
     Earnings before interest, taxes,
          depreciation and amortization
           (EBITDA)                            $12.9      $34.0        $45.7
     Depreciation and amortization               5.3       15.3         20.9
     Capital expenditures                        5.3       15.2         20.5
     Working capital increase (decrease)        (1.4)     (25.9)       (29.1)
     Total assets                              297.9      696.3      1,034.1
     Capital employed+                         222.7      424.8        690.2
     Stores in operation                         n/a        161          161
 
     Year To Date
     Earnings before interest, taxes,
          depreciation and amortization
           (EBITDA)                            $25.6      $65.7        $88.9
     Depreciation and amortization              10.2       30.5         41.4
     Capital expenditures                       11.8       37.9         49.7
     Working capital increase (decrease)         3.2      (36.0)       (16.1)
     Total assets                              297.9      696.3      1,034.1
     Capital employed+                         222.7      424.8        690.2
     Stores in operation                         n/a        161          161
 
 
      *  Due to the activities of Ruddick's corporate headquarters, the
         operating statistics by subsidiary are not additive.
      +  Long-term debt including current portion, capital leases, minority
         interests and shareholders' equity.
 
     Contact: John B. Woodlief, Vice President -- Finance of Ruddick
 Corporation, 704-372-5404.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X44786133
 
 SOURCE  Ruddick Corporation