Calgary Co-op Member-Owners Share 34 Million in Member Refunds
CALGARY, March 13, 2013 /CNW/ - Financial results for Calgary Co-operative Association Limited (Calgary Co-op) for its financial year ending November 3, 2012, show an increase in sales of 6.1%. Earning $1.164 billion last year compared to $1.097 billion in 2011. Assets were 457 million compared to 441.4 million in 2011. Earnings before income tax and patronage returns to member-owners were $ 54.8 million compared to 59.2 million in 2012.
"Throughout the years, Calgary Co-op has been committed to our community and worked hard to provide greater everyday pricing and value for our member-owners." says Deane Collinson, CEO. "If we have learned anything from the past 55 years as one of the most successful co-operatives in North America, it's that Calgary Co-op must stay true to our heritage. The longevity of our organization is directly related to the loyalty and support of our member-owners."
Calgary Co-op celebrated several achievements last year including, a new food centre, gas bar and wine, spirits and beer store in High River, a new wine, spirits and beer tasting centre in Edmonton plus two new gas bars in Calgary. The continued focus is to support local and Canadian growers and the expansion of organic and exclusive offerings in the fresh departments. In 2012, Calgary Co-op's commitment to community investment resulted in over $4 million in donations to local not-for-profit and charitable organizations.
About Calgary Co-op
Owned by our members, Calgary Co-op is one of the largest retail co-operatives in North America. With over 440,000 members, 3500 employees, assets of $4567 million and annual sales over $1 billion, Calgary Co-op is committed to lead in food; petroleum; home health care; pharmacy; wine, spirits, beer and travel. Investing over $4 million into the local community each year, Calgary Co-op supports numerous not-for-profit and charitable organizations through our Co-op Community Foundation.
SOURCE: Calgary Co-Operative Association Limited (Calgary Co-op)For further information:
Cindy Drummond, Manager Communications
Calgary Co-operative Association Limited
Telephone: 403-219-6025, ext. 6137