Another Record Year for AWG

AWG reported record net sales of $7.25 billion on a consolidated basis, and distributed a record $151.6 million in year-end patronage at its Annual Shareholders meeting on Sunday, March 20, 2011. AWG’s sales represented a $196 million increase over the previous year, or 3%.

AWG’s year-end patronage rebate amounted to 2.64% of qualifying warehouse sales, also another record for the cooperative. In total, including allowances, AWG rebated $496 million to its members in 2010, up $48.7 million, or 7.8% of sales, while internal gross margins remained even, compared to prior year.

AWG also announced a 4% increase in the trading value for AWG stock, to $1,570 per share. In addition, AWG’s private brands, Best Choice and Always Save, reached a milestone…achieving sales of $1.0 billion in 2010.
In commenting on the results, Jerry Garland, President and CEO of AWG said, “We are pleased with this year’s financial results. Our marketing direction stressed value and as a result AWG Brands, Best Choice and Always Save, had a record-breaking year, achieving sales in excess of $1 billion in 2010.”
Also, during the shareholders meeting, the following AWG Board of Directors were re-elected to three year terms: Jim Brown, Doc’s Food Stores; William Emmons, Albertson’s LLC; Jay Lawrence, Lawrence Brothers; Alan McKeever, McKeever’s, Inc.; James Neumann, Valu Market, Inc.; Barry Queen, Queen’s Enterprises; and Jeff Reasor, Reasor’s, Inc.