CALGARY, March 7, 2012 /CNW/ -Financial results for Calgary Co-operative Association Limited (Calgary Co-op) for its financial year ending October 29, 2011, show an increase in sales to $1.097 billion compared to $1.023 billion in 2010. Assets were 441.4 million compared to 413.4 million in 2010. Earnings before income tax and patronage returns to member-owners were $59.2 million compared to 37.9 million in 2010.
"Throughout the years, Calgary Co-op has been committed to our community and worked hard to provide the caring service and great quality products that our member-owners have come to expect. Our standards are high and we have every intention to provide greater everyday pricing and value for our memberowners." 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 ground breaking ceremony to begin construction for a new food centre, gas bar and wines and spirits store in High River, a continued focus to support local and Canadian growers and the expansion of organic and exclusive offerings in the fresh departments. In 2011, Calgary Co-op's commitment to community investment resulted in over $3 million in donations to local not-for-profit and charitable organizations.
About Calgary Co-op
Owned by Calgarians and their neighbors, Calgary Co-op is one of the largest retail cooperatives in North America. With over 440,000 members, 3300 employees, assets of $441 million and annual sales over $1 billion, Calgary Co-op, Calgary's local fresh market is committed to lead in food, petroleum, home health care, pharmacy, wines & spirits and travel.
For further information:
Cindy Drummond, Manager Communications
Calgary Co-operative Association Limited
Telephone: 403-219-6025, ext. 6137