Regina Leader Post Headline News
Sign up to receive daily headline news from Regina Leader-Post, a division of Postmedia Network Inc. Email Address There was an error, please provide a valid email address. By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300
Thanks for signing up!
A welcome email is on its way. If you don t see it please check your junk folder.
Federated Co-op Ltd annual report shows impact of COVID-19
leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.
Federated Co-op Ltd annual report shows impact of COVID-19
thestarphoenix.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestarphoenix.com Daily Mail and Mail on Sunday newspapers.
Federated Co-op s annual report shows $1 3B sales decline in 2020
panow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from panow.com Daily Mail and Mail on Sunday newspapers.
(CKOM News file photo)
The COVID-19 pandemic hasn’t been kind to Federated Co-op.
The company owned by roughly 190 co-ops in Western Canada is reporting a sharp decline in net profits, according to its annual report.
Net profits finished at $177 million for 2020, down from $959 million in 2019. Annual sales came in at $7.9 billion, down from $9.2 billion.
Data released in the annual report point to sales dropoffs in the energy sector accounting for much of the net profit losses compared to last year.
“While the first four months of the fiscal year proceeded as expected, the pandemicâs spread and contraction of the global economy led to an overall sales decline in 2020,” Federated Co-op Limited CEO Scott Banda said.