The Drumheller Co-op’s sales continue to climb, in 2014 realizing more than $45 million.
The Co-op held its annual General Meeting on April 22 at Greentree Mall. Again, the non-food division, which includes fuel, agro and the building centre, led the way with $38,157,057 in sales. The food division brought in $6,881,048.
Outgoing president Barry Fullerton pointed out that while it was strong year in sales, the Drumheller Co-op continues to operate at local loss, before the Federated Cooperatives Limited (FCL) patronage refund. This is much the case with 50 per cent of all Co-ops in the system. He explains that the retail Co-ops can expect to see a reduction on their patronage refunds.
“What it does tell us, is we must become more financially viable prior to receiving our patronage refund from FCL,” he states in his President’s Message.
Last year’s patronage refund to the local Co-op from FCL was $2,357,941. From that a patronage refund an allocation of $706,764 was made to members.
He says that the competition in the valley, supporting three traditional grocery stores and one non-traditional store is making the food division struggle, however they continue to work on it with the local management team and FCL.
There were many bright spots this year including the continuing strength of the petroleum division. The Agro division also had a strong year seeing great sales in items such as bins.
The home centre also saw an extensive upgrade, allowing the store to offer a greater selection. It held its grand opening last May.
The local Co-op has continued to show support for community groups. In 2014, the community till tape program paid out $31,632.75. The Co-op Gift Card program also continues to be successful, and in 2014, they presented community groups with cheques totaling $14,392.50.
There were two new board members selected at the Annual General Meeting. Shelly Rymal and Rusty Hamelin joined the board this year. Eric Poettcker is president and Lloyd Marshman is vice president. Kathy Little is secretary.
