Ruddick Corporation (NYSE: RDK) today reported that A&E has continued to experience weakness in sales due primarily to the slowdown in consumer spending in the US. While the results for the first fiscal quarter of 2002 which ends on December 30, 2001, are not fully known at this time, Ruddick anticipates that its earnings per share for the first quarter could be three to four cents per share lower than the $.24 reported in the comparable first quarter of fiscal 2001. The possible decline in earnings is wholly attributed to weaker performance at A&E. A&E is expected to generate marginally positive profits from operations in the current fiscal quarter.
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