USA: Fresh Brands reports record 2001 sales, flat Q4 earnings
Fresh Brands, Inc, has reported record sales and earnings per share for its fiscal year ended 29 December 2001. Net sales for 2001 were a record US$580.2m, a 15.6% increase over the prior year's sales of US$502.1m. The significant sales increase was largely attributable to the June, 2001 acquisition of Dick's Supermarkets, Inc. Dick's Supermarkets contributed US$57.2m to net sales in 2001. Net earnings for the year were US$7.8m, compared to net earnings of US$7.9m in 2000. Diluted earnings per share for 2001 were $1.48, an 11.3% increase over diluted earnings per share of US$1.33 in the prior year. The improvement in 2001 earnings per share was principally attributable to share repurchases during the year.
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