The Drumheller Co-op broke the $40 million mark in sales last year, membership learned at the Annual General Meeting.
The Co-op held its AGM on Wednesday, April 24. The non-food led the way with over $33 million in sales, the food division brought in just under $7 million.
Board President Barry Fullerton told the membership the board approved a patronage allocation to members of $1,138,482, based on 2012 earnings. They also approved a general repayment of $266,736 and an age repayment of $89,181.
Beyond sales, the Drumheller Co-op had many things to celebrate in 2012, including its 50th anniversary.
It held all kinds of events and promotions to mark its half-century in the community. By far the most popular would be the $1962 travel voucher draw, which attracted more than 26,00 entries.
The Co-op also had a very generous year of giving. The Till Tape Program paid out $26,471 to local community groups. The Gift Card Program is also going strong. This is where the Drumheller Co-op allows community groups to sell gift cards as a fundraiser. Participants sold $282, 353 worth of gift cards, earning $26,575 for their organizations.
The one challenge for the co-op continues to be Greentree Mall.
“The mall continues to present us with one of our biggest challenges and when you look around town and see the empty retail spaces, it only adds to our challenges,” said Fullerton in his report.
He says they are continuing to work with Federated Co-op’s real estate division to look for tenants to fill some of the spaces, and are exploring whether reconfiguration could make some of the spaces more rentable.
Drumheller Co-op controller David Kosolofski presents the 2012 annual report as board president Barry Fullerton, manager Gord Van Kannel and director Fred Makowecki follow along.
Looking forward, general manager Gordon Van Kannel told membership they are planning a $1.3 million renovation to the Home and Agro centre this year. This will be an interior upgrade and modernization. It will deal with some building code concerns and will also improve product presentation, making way for newer displays for items such as cabinets, sink and vanities.
The project is slated for completion for the end of this year. Funding is to be provided through a bank loan and operations.
This year, board director Doug Huene’s term expired and he is ineligible to sit on the board without a break. Board members Eric Poettcker and Dalton Madsen let their names stand and maintained their seats on the board. New members acclaimed were Reg Wiebe and Ken Leonhardt. There is still one seat available on the board.
