Skip to main content

Calgary Co-op sees slight sales dip in 2021

A decrease in fuel demand and an increase in gas prices had a negative impact on the company's fiscal results

Calgary Co-op, which operates pharmacy, gas, liquor, home health care centres and grocery stores, says sales in fiscal 2021 decreased 2.6 % to $1.23 billion.

The retail co-operative attributes the slight decrease in year-over-year sales to a continued decline in fuel demand thanks to rising gas prices.

Net earnings, meanwhile, increase slightly to $30 million in 2021, compared to $23.1 million the year before.

“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,” the company said in a press release.

“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.”

Calgary Co-op members received $21.8 million through the annual member refund: $5.3 million was paid in shares and $16.5 million was paid in cash.

This ad will auto-close in 10 seconds