Pioneer sets new sales record despite COVID-19 challenges

The Pioneer Co-op reported a record setting sales year despite the challenges and uncertainty of the COVID-19 pandemic.

Pioneer Co-op hosted a virtual annual general meeting on April 14, where members learned that sales reached $322.4 million for the year ending January 31, 2021, an increase from the $309.7 million recorded the previous year. The cost of goods sold reached $272.4 million, up from $266.4 million the previous year. This resulted in a gross margin of $50 million for this year’s annual report, up from $43.3 million the previous reporting period.

“There is no doubt COVID-19 has changed the way Pioneer Coop does business,” Pioneer Co-op CEO Larry Kozun stated during the annual meeting. “We have taken unprecedented measures to keep our team members and guests safe when they shop in our facilities. Changes such as virtual board meetings and virtual employee training sessions have made us think differently and challenge historical norms.”

During the reporting on the 2020 Financial Statements, members were informed the total assets of Pioneer sat at $188.1 million as of January 31, 2021, which was down slightly from the $191.1 million from a year earlier.

Pioneer’s earnings of $15.71 million was up slightly from the $15.66 million the previous year.

The strength of the year allowed for a patronage allocation to members of $11.8 million, up slightly from the $11.1 million paid out the previous year.

Pioneer Board Chair Uli Cartman, announced that the percentages for the patronage allocation will be: Food 3.0 per cent; Hardware, Lumber, Plumbing 1.0 per cent; Pharmacy 5.0 per cent; Agro 5.0 per cent; Fertilizer 1.0 per cent; Service Station 4.5 per cent (4.0 cents/litre); Farm Fuel and Marked Diesel 6.0 per cent (4.0 cents/ litre); and Wine and Spirits 2.5 per cent.

During 2020, Pioneer Co-op completed several business improvements in order to serve customers/members better. These included Food Store Bunk Ends, Wheatland Mall Home Center renovations, Shaunavon Food Store renovations, Agronomy Floater, a Portable

Seed Treater, a Fuel Delivery Unit and Agronomy exterior upgrades.

Kozun reported that the organization is adapting and enhancing capabilities to ensure the delivery of a compelling, competitive and profitable customer experience for all members. He added that plans for 2021 will keep the Board of Directors, Team Leaders and Team Members busy as they work toward these goals.

In keeping with the Co-operative Core Value of caring for and supporting local communities, Pioneer Co-op supported local events and community initiatives through member relations donations of just under $100,000.

“Pioneer Coop has received exceptional support from our members at all of our retail locations in each community. We thank you for your support. It shows what we can accomplish together.” Kozun said. “I would like thank Pioneer Co-op team leaders and members for their dedication, contribution and leadership that led to a successful 2020 and also express my appreciation to the Board of Directors for their time, leadership, guidance and support.”