Calgary Co-op Shares 2021 Financial Results, Annual Report and 2022 Director Election Results

An in-person AGM took place in Calgary on April 7

April 8, 2022 - Calgary – Calgary Co-operative Association Limited (“Calgary Co-op”) hosted its Annual General Meeting (AGM) last night, and is pleased to share its 2021 Financial Results, Annual Report, and the results of the 2022 Director Election.

Board of Directors

Three directors have been elected to the board to serve a three-year term on the Calgary Co-op Board of Directors: Mike Dalton, Ken White and Bryan Walton. The 2022-2023 Calgary Co-op Board of Directors consists of nine directors and along with the three new directors, it includes: Incoming Board Chair, Brad Krizan; Dominique Gregoire, Vice Chair; Elaine Bereziuk-Smith, Secretary; Victoria Bradbury; Gael MacLeod; and Evan Hu. 

“We can see the strength of our community based on the terrific selection of individuals who participated in this year’s director election,” said Brad Krizan, Board Chair, “We are truly committed to serving our members in the best way possible and look forward to the continued positive transformation of the business for long term sustainability and new ways to support our membership and our community.”

Financial Results

Total sales for the year ending on October 31, 2021, amounted to $1.23 billion, compared to $1.264 billion in 2020. While food and liquor sales performed well, this slight decrease is attributable to a continued decline in fuel demand, with fuel price inflation.

Net earnings for 2021 amounted to $30 million, a slight increase compared to $23.1 million in 2020.

The Board of Directors approved the payment of patronage returns in the amount of $21.8 million in 2021, a decrease from the $24.5 million returned to members in 2020. The portion of the patronage returns paid in cash was $16.5 million (compared to $18.2 million in 2020) with $5.3 million paid in shares (compared to $6.3 million in 2020). Throughout 2021, Calgary Co-op continued to navigate the pandemic with softer fuel sales and a continued commitment towards consistent food, fuel, pharmacy, and other retail supply chains. Further, the retail cooperative continued to transform a number of its food stores, including opening a new food store in the community of Sage Hill, which was held in conjunction with the organization’s 65th Anniversary.

The 2021 member refund was based on the following:

  • Two (2) per cent refund based on purchases at food centres, pharmacies, convenience stores, home

health care centres, wine, spirits and beer and cannabis locations (with the same allocation rate as in 2020); and four (4) cents per litre refund based on petroleum fuel purchases.

Complete financial results are included in the 2021 Annual Report, which is available here.

2021 Highlights

Calgary Co-op has posted a highlights video to its website providing an overview of Calgary Co-op’s 2021 governance and finances, providing members with an opportunity to review highlights of the year in a straightforward and transparent manner. The video is available for viewing on the Calgary Co-op website.  

A Commitment to the Community and Members

Calgary Co-op has been commended for continuing to support the community through a broad variety of programs, donations and partnerships focused on food security. It received national recognition as  recipient of a 2021 Canadian Grocer Impact Award, in the Community Service category. Further, the cooperative continues to invest heavily in environmental initiatives, local products, and social causes aligned to its purpose of enriching its members’ communities. These include the ongoing use of compostable shopping bags, installation of EV charging stations and energy efficient LED lights and refrigeration. It continues to lead the market in local assortment, buying from more than 120 local producers providing more than 2,400 products in store, doing its part to support local enterprises and farmers. Calgary Co-op made a strong commitment towards supporting the community with $2.7 million dollars in food and funds to help address food security in the community in 2021, an increase from $2.2 million in 2020. Calgary Co-op has already committed a minimum of $3 million contribution to local organizations in 2022.

“Our 440,000 members and 3,850 team members are at the heart of everything we do,” says Ken Keelor, CEO of Calgary Co-op. “Whether it’s our commitment to carrying local food products, providing a safe and quality shopping experience in-store, curbside or online or enhancing our environmental practices, Calgary Co-op believes that serving our community should be at the core of our business.”

Food Positioning and Ecommerce

Launched in April 2020, Calgary Co-op continues to increase the product assortment of its private brands, Cal & Gary’s™ and Founders & Farmers™, with more than 2,000 unique products in its food stores, many from local suppliers. The organization’s focus on ecommerce in 2021 has resulted in an extensive online product assortment, providing members with an exceptional online shopping experience for food, wine, spirits, beer, and cannabis.

About Calgary Co-op

Owned by members, Calgary Co-op is one of the largest retail co-operatives in North America. Our locations in Calgary, Airdrie, Cochrane, High River, Okotoks and Strathmore include food centres, pharmacies, gas stations, car washes, commercial cardlocks, home health care centres, wine, spirits and beer locations, and cannabis.

With over 440,000 members, 3,850 employees, assets of $627 million and annual sales in excess of $1.2 billion, Calgary Co-op was recognized as one of Alberta's Top 75 Employers of 2020 and is committed to delivering an exceptional customer experience through inspired team members. For more information, please visit www.calgarycoop.com

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For further information, please contact:

Sage Pullen McIntosh

Director, Communications

Calgary Co-operative Association Limited

Office: 403.219.6025 ext. 6105

spullenmcintosh@calgarycoop.com

 

Paula Worthington

Worthington PR & Story

403.585.2429

paula@worthingtonpr.com