KANSAS CITY, Kan. — Associated Wholesale Grocers here said it had record net sales of $7.1 billion for the fiscal year that ended Dec. 26 — a gain of 3% over the $6.9 billion reported a year earlier.
The cooperatively owned wholesaler also announced a record year-end patronage dividend of $145.7 million — equal to 2.6% of qualifying warehouse sales. Those results were scheduled to be announced Sunday night at the cooperative's annual shareholders meeting here.
Including allowances, AWG said it rebated $447.7 million to members in 2009, up by $27.3 million, or 6.5%, while internal gross margins remained even with the prior year.
"The last year has been economically challenging for our nation in every respect [as we] saw a dramatic shift in consumer priorities, with a real need to stretch consumable dollars," said Jerry Garland, president and chief executive officer. "Our marketing direction stressed value, and as a result, AWG brands, our private label, had a record-breaking year."
AWG also said the trading value of its stock rose 4.1% to $1,510 per share. The company supplies more than 560 members operating more than 1,900 independent stores in 21 states and delivers to 2,259 retail stores in 23 states through eight distribution centers.
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