13°c Partly cloudy
10°c Rain
Winnipeg Free Press - PRINT EDITION
Red River Co-op's members get $38.8M
Membership has its privileges.
Red River Co-op members are about to rake in a record haul as cheques totalling $38.8 million are about to land in their mailboxes.
"This is our best payout year ever," said Gregg Reiter, general manager at Red River. "There is no better investment than a $5 lifetime membership with us."
The Winnipeg-based co-op's annual sales exceeded $512 million last year, generating a profit of $62.4 million.
Members will receive cheques averaging $192, which works out to an average of 12 cents per litre purchased. In the past five years, it has paid out nearly $160 million in cash to its members.
Reiter said its results were boosted by very positive results at its two newest locations, one on Roblin Boulevard and the other on Regent Avenue. He said he's on the lookout for more real estate, particularly in the city's southeast corner.
"If we could get property in Waverley West, we'd move there in a heartbeat. Real estate is tough to come by. We need at least an acre-and-a-half to build now," he said, noting its newest locations typically have 24 filling positions, a tunnel car wash and a large convenience store.
Reiter said Red River is also looking to expand to Dryden, Ont.
Red River's membership reached yet another all-time high of more than 220,900 at its fiscal year end in November, up from 203,000 12 months earlier. Only 201,900 members will receive cheques. The remainder have not conducted enough business with the co-op to warrant one.
Red River will celebrate its 75th anniversary this fall. It still operates out of its first two locations -- on Ellice Avenue at Wall Street and its Rossmere store on Henderson Highway.
geoff.kirbyson@ freepress.mb.ca
Republished from the Winnipeg Free Press print edition February 10, 2012 0
More Local
- Back to Top
- Return to Local
Poll
Proudly brought to you by:
Most Popular Local
- Thieves strip $20K worth of copper wiring from gravel pit
- Cyclist killed on Higgins Avenue was passionate mentor, volunteer
- WWE's Jericho breaks code in Brazil
- Ex-Bomber sued for $4.8M
- Pukatawagan RCMP looking for two dangerous suspects
- Ex-Hydro boss slams closure
- Gang members get lengthy sentences for jailhouse beating
- Blue boxes to garden boxes?
- Man hit before fatal blow, friend testifies
- Teachers split on issue of human sexuality
- Bear pulls camper from outhouse, before being shot
- Cyclist killed in collision on Higgins identified
- Cyclist killed on Higgins Avenue was passionate mentor, volunteer
- A SHED is not enough
- Football star's fatal punch probed at manslaughter trail
- Cyclist killed in Higgins Avenue crash
- Sex-scandal inquiry to be heard in city
- Winnipeg man recovering after campground bear attack
- Man hit before fatal blow, friend testifies
- Female cyclist dies on Higgins after falling into semi's path
- Boozy night out, lying cost city man big bucks
- Neighbours shaken by two deaths
- Rapid buses rattling homes
- Severe storm warning issued
- Has Gimli gone to pot?
- Bear pulls camper from outhouse, before being shot
- Cyclist killed in collision on Higgins identified
- Teen hit by vehicle on Pembina
- Triple whammy hits homes
- Cyclist killed on Higgins Avenue was passionate mentor, volunteer
- Cyclist killed on Higgins Avenue was passionate mentor, volunteer
- Ex-Hydro boss slams closure
- Ex-Bomber sued for $4.8M
- At 100, she's still winning friends and winning at bridge
- His life made our world a better place
- Band, council defy feds on aid
- Hydro headquarters named Canada's greenest office tower
- Teachers split on issue of human sexuality
- Diplomat saved thousands from Hitler
- Cummings steps out of reunion for sick mom
- Bear pulls camper from outhouse, before being shot
- Pooch paradise, where champion beagles run free
- His life made our world a better place
- Winnipeg man recovering after campground bear attack
- He was enjoying view, bear came out of blue
- Scientists lash Harper government for pulling plug on Experimental Lakes Area
- Diplomat saved thousands from Hitler
- Weeding out the chemicals
- U of W rejects copyright deal as 'money grab'
- Chemicals not par for the course
- Bear pulls camper from outhouse, before being shot
- Has Gimli gone to pot?
- Pooch paradise, where champion beagles run free
- His life made our world a better place
- Scientists lash Harper government for pulling plug on Experimental Lakes Area
- RRC's old gem a beauty
- Attack on hockey ref nets jail time
- Our Village is as good as it gets
- Judge faces second complaint
- Winnipeg man recovering after campground bear attack
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010; View the changes. New to commenting? Check out our Frequently Asked Questions.