Financial Report

Elka Malkis

Sales at the Co-op for the first two quarters ( July 1, 2006 through December 31, 2006) of this fiscal year were $13,707,615. While this is just a small increase over last year, it is an all-time record. We had, on average, 2,543 shoppers every day and the average transaction was $29.49.

Aside from Sales information, the financial statements for the second quarter (October through December) were not finished in time to make this issue's deadline. Instead, this report will focus only on the first quarter, July through September 2006.

Sales for the quarter were $8,898,088, a 9% increase over last year. Our Gross Profit Margin (how much we have left after paying suppliers for the food we sell) was 34.9%. That means we had just less than 35 cents per dollar in sales left to pay for all other expenses. Those other expenses are: Labor (25.2%), Building (2.5%), Operating (5%), Admin (.5%), Governance (1.2%) and Promotions (.8%). We brought in an additional 2.4% in interest earned, service fees at the warehouse and transfers from the warehouse to the store.

We ended the quarter with $192,160 in profit, out of which we paid $166,736 in estimated State and Federal Income Taxes.