Associated Food Stores Inc. had another strong financial year, but its chief executive officer was urging members Friday to "not let complacency lull us into inaction."
CEO Rich Parkinson said during the Salt Lake City-based company's annual shareholder meeting that consolidated sales totaled $1.63 billion last year, up $110 million or 7.2 percent, despite a shorter April-through-March fiscal period. Sales at 23 corporate stores totaled $531.3 million, up $33 million or nearly 6.5 percent.
"Inflation certainly made up a portion of that increase," Parkinson told the crowd of about 600 during the 68th annual meeting.The company, with the distinctive "Cart in the A" logo, is a cooperatively owned wholesale distributor to more than 500 supermarkets in eight states. It has more than 1,400 employees and ships more than 750 truckloads of groceries each week.