Among its financial results, Calgary Co-operative Association has reported that total sales for the year ending on Oct. 29, 2022, amounted to CAD $1.32 billion, compared with CAD $1.23 billion in 2021. Net earnings was CAD $38 million, an increase from CAD $30 million in 2021.
The board of directors approved the payment of patronage returns in the amount of CAD $26 million in 2022, an increase from the CAD $21.8 million returned to members in 2021.The portion of the patronage returns paid in cash was CAD $19.7 million (compared with CAD $16.5 million in 2021), with CAD $6.3 million paid in shares (compared with CAD $5.3 million in 2021). Complete financial results are included in the "2022 Annual Report."
(Read more: “Calgary Co-op to Acquire Local Wines & Spirits Brand")
In regard to its commitment to community members,a food insecurity reduction pilot program was expanded to reach all 22 food stores with the launch of the Calgary Co-op Fresh Food Rescue Program. The program has provided more than 1.06 million pounds of nutritious foods in approximately 100,000 food hampers. The initiative was in addition to the CAD $2.8 million donated in funds and nonperishable food in 2022, an increase from CAD $2.7 million in 2021.
Owned by its members, Calgary Co-op is one of the largest retail cooperatives in North America. The company has more than 400,000 members, 3,850 employees, assets of CAD $700 million and annual sales of CAD $1.3 billion. Locations in Calgary, Airdrie, Cochrane, High River, Okotoks and Strathmore, Alberta, include food centers; pharmacies; gas stations; car washes; home health care centers; wine, spirits and beer locations; and cannabis locations.