LOS ANGELES — If 2009 was a year of adaptability for Unified Grocers here, 2010 will be a year of flexibility, Al Plamann, president and chief executive officer, told the company's annual meeting here Tuesday.
Unified said it plans to take a proactive approach this year, particularly with regard to financial flexibility — something it has been doing over the last 12 months by completing three financial transactions that have enabled the company to boost its borrowing capacity by $75 million "for future opportunities," Plamann said. "We will not be a victim of this downturn," he said. "Hunkering down in a recession is easy, but a proactive approach yields positive results."
Unified's mission, he said, will be "success at retail [and] sustainability at wholesale."
The cooperative wholesaler weathered the economic storm last year with mixed sales results among its member stores, Plamann said. On the plus side, however, members' total store count climbed by 47 locations; equipment sales continued to increase, as they have for several years; and Unified became an IGA supplier.
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