Fresh Brands Inc has reported sales and earnings for the second quarter ended July 12, 2003.
Net sales for the second quarter of 2003 were a record $152.2 million, a 3.6% increase over 2002’s second-quarter sales of $146.9 million. Net earnings for the second quarter of 2003 were $1.65 million, a decrease of 13.7% compared with earnings of $1.91 million for the same period in 2002.
“We are pleased to report record sales for the second quarter of 2003, especially in view of the continued soft economic environment and increased competition in many of our markets,” said Elwood F Winn, president and chief executive officer of Fresh Brands.
For the first two quarters of 2003, net sales totaled a record $339.8 million, a 2.7% increase over sales of $331.1 million in the same period of the year before. Net earnings for the first two quarters of 2003 were $3.58 million, a 6.5% drop versus net earnings of $3.82 million for the same period in 2002.
