Fuel sales strengthen Calgary Co-op's bottom line during pandemic recovery yyc
The local independent grocery chain saw food and pharmaceutical sales drop $3.8 million, and revenue from liquor, cannabis and home health care lines fall $18.5 million.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
“The story really of 2022 was continued recovery — and not to pre-pandemic levels — and now the added complexity of inflation and cost-of-living increases impacting our customers,” said Ken Keelor, CEO of Calgary Co-op. Keelor said many people were purchasing lower-quality good, smaller quantities and focusing on discounted items. The drop in food sale totals was only partly balanced out by continued growth in pharmacy sales.
While other major national chains such as Loblaws and Empire were called in front of a parliamentary committee and grilled on the rising cost of food, Co-op did its best to focus on local suppliers and supplying local restaurants. This has long been a hallmark for the grocer but Keelor said it has become an even bigger priority in the past few years.
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