Associated Wholesale Grocers Hit Record $9.7B Net Sales
AWG President and CEO David Smith addresses shareholders at the company's annual meeting
At this week’s annual shareholder’s meeting, Associated Wholesale Grocers (AWG) reported record consolidated net sales on continuing operations of $9.7 billion, with cooperative net sales of $8.59 billion, an increase of more than $110 million over 2017.
David Smith, AWG president and CEO, said: “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.”
The wholesaler also distributed a record $210.5 million in year-end patronage, and total distribution of cooperative benefits returned to shareholders including interest, allowances and patronage was $558.7 million. Total members’ investment and equity ended the year valued at $556.2 million, an all-time record.
Barry Queen, AWG’s chairman of the board, noted: “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. It gives me and my family the confidence to stay in the fight. I feel good about where we are going.”
The meeting was held in conjunction with the 2nd Annual Innovation Showcase, which featured more than 160 innovative solutions and more than 50 concurrent educational workshops, all focused on supporting AWG’s members by better aligning the efforts of the cooperative, its members and its vendor partners.
AWG, based in Kansas City, Kan., is a cooperative food wholesaler to independent grocers, serving more than 1,100 member companies and 3,800-plus independent grocery stores throughout 36 states, from eight full-line wholesale divisions.