Associated Wholesale Grocers (AWG) is celebrating the success of record results. At an annual shareholders meeting earlier this week, the wholesaler reported record consolidated net sales on continuing operations of $9.7 billion and distributed a record $210.5 million in year-end patronage. In addition, AWG finished its year out strong with cooperative sales of $8.59 billion—an increase of $110 million from 2017—and a trading value for class “A” shares that increased 4.55% to $2,300 per share.
“Despite the challenges of an intensely competitive retail environment, the impact of disruptive technology and the workforce squeeze, AWG experienced another strong year of performance and growth. We are blessed to be the cooperative grocery wholesaler of choice to many of the nation’s finest independent grocers and our success is wholly due to their success,” said David Smith, President and CEO. “We are so very thankful to all of our members for their trust and support, for the leadership of our board, and the great efforts of our vendor partners, as well as our AWG teammates that made it happen."
According to a press release, the annual shareholders meeting was complimented with AWG’s second annual Innovation Showcase, reflecting the emphasis AWG is placing on fulfilling its mission to provide its member-retailers all of the tools, products, and services they need to compete favorably in all markets served. The Showcase highlighted over 160 innovative solutions and offered over 50 educational workshops.
“In challenging times, as an independent grocer, I believe that it’s vitally important to be a part of something larger and stronger than ourselves, that has the products, tools, resources, and support to remain relevant and successful. AWG is owned by its grocers, led by grocers, and focused on the success of its grocers. I’m proud to be a part of this cooperative and proud to see the continued fine results that we can deliver for the benefit of our retailer-members…I feel good about where we are going,” said Barry Queen, Chairman of the Board. “I’m very proud of our leadership team and our Board of Directors that work closely together to ensure our cooperative remains strong and is focused on the needs of our members—today and tomorrow.”
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