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2003-2004
Enthusiasm, change, and accomplishment – these three words sum up the years 2003
and 2004.
2003 began with a fresh new look for many of the Basics, Conventional and
Country Stores. New banners were displayed and several conventional co-ops were
converted to the conventional store banner.
The non-co-op independent banners - ValuFoods grocery stores and Rite Stop
convenience stores both achieved exciting sales growth. By the end of 2003,
bannered retails numbered 22 with a total of 12 Rite Stops and 10 ValuFoods.
The petroleum department also grew, adding a bulk fuel branch in Shippagan, NB,
undertaking the retail operations of the gas bar in Glace Bay and the gas bar
and home heating operation in Lawrencetown, NS.
In real estate, Avide Developments Inc., an integrated property development
company, was launched. Avide is the amalgamation of CA Design-Build Group,
Atlantic Peoples’ Housing Ltd. and the CA Real Estate Department.
In the agriculture division, 2003 was a year of upheaval. The outbreak of BSE
and subsequent trade restrictions changed our beef industry forever. Similarly,
the region’s hog producers experienced one of the toughest years in history with
depressed pricing and ongoing challenges to supply their traditional export
markets.
Despite these market conditions, the agriculture division generated positive
financial results and accomplished many goals. Construction began on the
producer-owned Atlantic Tender Beef Inc. plant in Borden-Carleton, PEI allowing
Co-op Atlantic to have a consistent supply of high-quality beef products for the
Atlantic Tender Beef program. The agriculture division became the main dealer
for Cover-All buildings in Atlantic Canada. Valley Fertilizers introduced a new
line of cat litter products and upgraded their plant to increase co-packing
capabilities for other manufacturers. Finally, Country Stores introduced a small
format Country Store with its first outlet in Montague, PEI
Other achievements this year include improving the overall petroleum litre
volume, introducing the new community co-op credit card and opening new
pharmacies under the licensed Medicine Shoppe agreement.
Unfortunately, in 2003 we were forced to participate in the closure of several
Co-op retail locations. In the end, it proved to be the right business decision
and made Co-op Atlantic stronger moving forward.
Overall in 2003, Co-op Atlantic accomplished a great deal, overcame several
challenges and made many positive changes allowing it to broaden its focus and
look towards the future with enthusiasm.
2004 Annual Report (PDF 2.0
MB)
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