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Cooperative wholesaler Unified Grocers managed to resist falling victim to the tough economic environment and held its marketshare for its fiscal year 2011, even adding 35 new stores to its count.
"Unified Grocers and our member retailers were successful in holding on to market share in a competitive and challenging business environment," said Al Plamann, chief executive officer, Unified Grocers. "In fact, our members continued to invest in their businesses by opening more than 35 new stores and remodeling and upgrading countless others during 2011.
"During the year we also added new customers in Hawaii and Alaska, significantly increased our business in Mexico, and are continuing to grow our perishables and specialty businesses at a steady pace. Though we anticipate that 2012 will be similar to 2011 in terms of the overall business climate, we believe that our Company and our independents are well positioned to capitalize on growth opportunities as they materialize in the future."
Unified’s earnings were $7.4 million for the fiscal year ended October 1, down from of $11.0 million last year. The value of one share of stock held in the Company rose to just over $312, an increase of three percent over the previous year.
The wholesaler reported net sales of $3.8 billion for the 2011 period, compared to $3.9 billion last year. The company attributed its sales decrease to the loss of a significant customer during 2011 and the impact of customer store closures. The decrease in sales was partially offset by increased sales to existing customers and additional sales generated from new customers in fiscal 2011.