Hanover Co-op 2019 Business Results Announced
Cooperative ends year with highest sales ever
March 2, 2020
The Hanover Consumer Cooperative Society, Inc. released results of its 2019 audit that shows an after-tax loss of $73,622 on sales of $76,977,354. The audit report was accepted by the Hanover Co-op board on February 26. In that report, the cooperative posted Savings before Taxes of -$37,253. The results reflect a one-time charge of $71,472 for asset disposal, in the absence of which, Savings before Taxes would have been $34,219.
The Co-op pursues a “triple bottom line” business strategy. Such an approach broadens the view of business results by balancing the need for profit with consideration of positive human and environmental impacts. This triple bottom line assessment seeks to strengthen operations and local communities over the long term. The cooperative’s financial results and community impact will be reviewed in greater detail at its annual meeting to be held April 4 from 10 a.m to 12:30 p.m. at the Listen Center, River Point Plaza, Route 4, White River Junction. The Hanover Consumer Cooperative Society, which does business as Hanover Co-op, is a for-profit business owned by more than 24,000 people. Founded in 1936, it operates full-service grocery stores in Hanover, Lebanon and White River Junction, a community market, two auto service centers in Hanover and Norwich, and a production kitchen in Wilder. The Hanover Co-op employs 375 people.