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 will give back over half a million dollars to members following its most successful year ever. After a refund from Federated Co-operatives Ltd., its main supplier, the Co-op made $1.88 million in 2012, its first full year in nearly a decade as Flin Flon's largest grocer. 'North of 53 Co-op had a fantastic year,' general manager Tom Therien told the Co-op's annual general meeting last week. Nearly 30 Co-op members lined tables at St. Mary's Ukrainian Catholic Church as Therien announced member refunds will total $529,765 _ the most ever. 'When we make a profit, we give it back to you,' he said from a wooden podium, a large 'Co-op' flag on the wall behind him. The amount of the individual refund cheques will vary greatly and depend on how much each member spent on food, merchandise and gas last year. Overall profits were up 37 per cent compared to 2011, when the Co-op's former main competitor, Extra Foods, remained open for most of the year. In an interesting twist, the Co-op has inquired about moving into its one-time rival's old building but has been told it is not for sale at this time. Therien said the Co-op would need partners if it were to relocate into the building, located at the Flintoba Shopping Centre, given its large size and high operating costs. See 'Aware' on pg. Continued from pg. He said the Co-op has not officially approached any potential partners, but he is aware of businesses interested in the Flintoba site. Meanwhile, gas revenues were up 25 per cent in 2012 thanks in part to the Co-op signing on as the new gas supplier for the Gateway Convenience Store. While the lower level of the Co-op building lost three tenants last year, Therien said one new one came on board and two others are or have expanded into the vacant space. 'When all this is complete, we will have gone from eight tenants to six with all the available rental space occupied and generating revenue,' he said. Though the bearer of much good news, Therien still faced some questions on how the Co-op is run, particularly with regard to its gas prices. Therien said the Co-op's goal is to offer the cheapest gas in town and pointed out members will be refunded 8.33 cents for every litre of gas purchased. In terms of the grocery business, Therien lauded the level of service offered to Co-op shoppers and referenced the cashier-less checkout lanes installed earlier this year. The Co-op's anchor building, which includes the grocery store, saw revenues increase 23 per cent from the previous year. The board of directors will remain the same after the meeting saw Dave Kendall, Linda Clark and Rob Schiefele acclaimed as the only candidates for the three vacancies. Refund cheques began being distributed to members last Thursday.
