Fresh Brands Inc chalks up record sales

Fresh Brands Inc, a supermarket retailer and grocery wholesaler operating in Wisconsin and northern Illinois, reported record sales and earnings per share for its fiscal year ended Dec 28, 2002.

Net sales for fiscal 2002 were a record $619.1 million, a 7.8% increase over the prior year’s sales of $574.2 million. Net earnings for the year rose 5.4% to $8.0 million, compared with restated net earnings of $7.6 million in 2001.

Retail sales for 2002 improved 15.0% to $305.2 million, compared with $265.4 million in the prior year. Net wholesale sales for fiscal 2002 totaled $313.9 million, a 1.6% increase over net wholesale sales of $308.8 million in 2001.

For the fourth quarter of fiscal 2002, net sales were $146.2 million, compared with last year’s fourth-quarter sales of $145.7 million. Net earnings for the fourth quarter of 2002 were $2.8 million, a 9.0% increase over restated net earnings of $2.6 million for the same period in 2001.

Retail sales for the fourth quarter of 2002 were $70.5 million, a 2.6% decrease from $72.4 million in fourth-quarter 2001. Net wholesale sales for the fourth quarter of 2002 climbed 3.3% to $75.7 million, compared with $73.3 million in the fourth quarter of the year before.