Calgary Co-op sees modest sales growth during the pandemic

Calgary Co-op, which operates pharmacy, gas, liquor, home health care centres and grocery stores, says sales in fiscal 2020 increased 2.2 % to $1.264 billion.

The retail co-operative attributes the $27 million increase to gains in food and liquor sales, “offset by reduced fuel sales as a result of COVID-19, along with the acquisition of Community Natural Foods.”

Net earnings, meanwhile, took a hit to $23.1 million in 2020, compared to $52.7 million the year before.

“Like many businesses, Calgary Co-op has had to navigate the challenges of the pandemic, ensuring the safe and consistent delivery of food, fuel, pharmacy and other retail goods,” the company said in a press release.

“While many lines of the retail business had strong results, the decline in fuel sales and patronage returns from our fuel wholesaler, reduced our overall returns.”

Calgary Co-op members received $24.5 million through the annual member refund: $6.3 million was paid in share equity and $18.2 million was paid in cash.