SWAN VALLEY CONSUMERS CO-OP ANNUAL MEETING 2020
July 7, 2020
General Manager’s Report
Swan Valley Co-op surpassed $87 million in sales and incurred a local loss of over $1.5 million before FCL patronage repayments. After FCL patronage, our net earnings totaled $2.6 million. The local loss is reflective of the significant capital investments of our food store renovation, opening of our new Agro Centre at The Pas, and the closure of the Family Fashion Gallery. My report will highlight our operations for the last year and touch on a few of the items we’re working on in 2020.
Our Co-op is focused on proactive approach to our business with the continued use of Corporate Performance Management and Talent Management. These measurable goals-based frameworks will help us achieve our mission of achieving growth by creating an excellent shopping experience for our members and our vision of being the retailer of choice in the communities we serve. The ultimate goal for our Co-op is to remain relevant in a rapidly increasing competitive retail environment and create long term sustainable value for our members.
Last year, our Co-op embarked on a major food store renovation that had its challenges and disruption. I am very proud of how our team responded to the difficult working environment and continued to serve our members the Coop way. Both our directors and employees are proud to offer the best in class shopping experience that the renovation has provided, current crisis environment excluded of course!
Our major capital investments this year include the construction of a truck shelter for our petroleum delivery units and continued work on our lease tenant development that will include renovation of the space later this year.
I’d also like to share a brief update regarding our COVID-19 response. Since prior to the State of Emergency declared by the province, our team has taken an aggressive and proactive approach to managing this crisis. I’m grateful for our team’s approach in the face of the increased risk they faced working on the front lines of our essential services. Thank you also to the many community members who stepped forward to take on roles in areas like grocery order picking, and entrance and exit monitoring.
Your Co-op continues to support local groups and organizations by assisting them with their fundraising activities. Last year we invested over $71,000 back into our local economy through donations to these groups.
Another significant contribution this year was an additional $25,000 grant for a playground renovation to The Pas Families Building a Better Community through the FCL Community Spaces program. We are proud to be part of your community and happy to lend a hand toward projects and partnerships that are doing great things close to home.
I want to close by thanking our team. Without them we could not serve our community as we have for the past 80 years. Also, the dedicated service and determination of our employees throughout our current health crisis has been exemplary. You truly make a difference in our members lives every day.
Thank you to the Board for their strategic direction, support, and trust they place in our team in moving toward our vision of being the retailer of choice in the communities we serve. And, of course without the support of our members we would not exist.
Thank you for your business.