Associated Wholesale Grocers said sales increased by 6.8% in 2013 to $8.4 billion, while same-store sales improved by nearly 2% for the year.
The nation’s second-largest cooperative food wholesaler announced the results at its annual meeting in Kanas City, Kan.
Operating income was a record $201 million, up $25 million from the previous year. Income return to retail members was $183 million, up $10 million from 2012. Total cash distribution returned to shareholders including interest, allowances and patronage was $522 million, up $36 million from a year ago.
Goss margins within the cooperative, including cash discounts paid by suppliers, was 5.8%, virtually flat with previous two years. Operating costs were reduced 10 basis points to 3.2% of sales.
Trading value for class A shares increased 4% to $1770 per share.
“AWG retailers continue to reap the benefits of our reinvestment of operational savings into lower gross margins and more competitive cost on merchandise,” Jerry Garland, president and CEO, said in a statement. “AWG is in the midst of a real growth cycle with almost a million square feet of new retail space under construction.”
Garland added: “Our consistent performance is a testament to the co-operative model where everyone has the same opportunity for success, and where transparency in the numbers breeds trust.”
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