The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
North of 53 Consumers Co-op experienced a sales drop of nearly $900,000 last year but still turned a profit as competition heated up. General manager Greg Baribeau revealed the 2003 sales figures Wednesday evening at the Elks Hall, where about 80 members gathered for the Co-op's 59th Annual Meeting. "Last year was a year of significant struggles in the operation of North of 53 Co-op," Baribeau wrote in his annual report. "With the new retail climate in Flin Flon, the emphasis was on trying to be as competitive as possible." The general manager wrote that dry grocery sales dropped close to $900,000, an 11 per cent decline over 2002, but the fresh food departments "did very well," with all experiencing a boost in sales. While overall food sales declined nearly four per cent, bulk petroleum sales shot up 15.3 per cent and service station sales jumped 32.3 per cent. "The increase in service station (business) was mainly due to our decision to extend the hours of operation," wrote Baribeau. "The increase in bulk petroleum was almost entirely due to the extreme long cold spell experienced last winter and the high fuel prices at the time." See 'Patronage' P.# Con't from P.# The overall sales drop for the Co-op's combined operations totaled $891,000, down nearly five per cent from 2002. With the assistance of patronage refunds from Federated Cooperatives Ltd., the business's main supplier, the Co-op's bottom line was a positive $292,500, a slight increase over 2002. Before expenses, sales totaled $17,688,300. Costs unique to 2003 related to the closure of the general merchandise department, which shut down in May 2003 after years of red ink. "These costs were expected and as part of the business review conducted, it was very evident that it made much more sense to close the department and incur the one-time loss than continuing to lose money year after year," wrote the general manager. With 2003 "a year of significant struggles," Baribeau prepared the membership for what may be another challenging year in 2004. "We now have an additional and very large food store opened in our market, and again we are on an extreme learning curve trying to adapt to the new competitive environment without compromising our service or quality presentations," he wrote. "2003 was a tough year . . . 2004 looks like it may even be more challenging with the new competitor open for business." Baribeau mentioned that the Co-op Board of Directors has set its priorities for 2004 on the leasing of the lower level of the Co-op, which once housed the general merchandise department, and continued investigation into expanding fuel service in the community. Highlights from 2003 included: A total of 216 new members joined the Co-op, bringing overall membership to 4,633. The board of directors authorized an allocation to the membership in the amount of $206,500. Over the past five years, the Co-op has returned over $2 million to members. The Co-op entered a float in the 2003 Canada Day Parade. Also in July, the Member Appreciation Day and Barbecue took place. Eight local delegates attended the Co-op Regional Fall Conference in Winnipeg: Walter Bowes; Dave Kendall; Ron Black; Lyle Borgstrom; Graham Craig; Dennis Whitbread; Greg Baribeau; and George Rideout.
