Dear Cooperators,

As we begin 2025, I’m excited to share that our co-op made solid progress toward financial sustainability in 2024. Thanks to your support, sales reached $10 million, representing 8% sales growth. Our momentum outpaces the national grocery industry’s 1-2% sales growth. Across the country, most food co-ops are growing as more shoppers seek fresh, healthy, and local foods in welcoming spaces that provide a sense of community. It is exciting to be a part of a renewed national energy focused on healthy living and supporting local!

Our strong sales growth empowered the co-op to invest in our staff and facility last year while building some cash reserves. We raised the co-op’s starting wage twice during the year, from $16 to $17 an hour and then again from $17 to $18 an hour. Both base pay rate increases coincided with cost-of-living increases for all staff.

Our new facility is over five years old, meaning certain pieces of equipment have already lived useful lives. In 2024, we upgraded our server and network equipment to better handle our usage level. We invested in new produce department shelving to better merchandise and extend the shelf life of our beautiful fresh fruits and veggies. Instead of renting a standby generator, we purchased one to keep on-site year-round and eliminate a costly monthly expense.

While optimistic about the renewed trend toward healthy eating and living, we remain mindful of the challenges of running an independent, community-powered grocery store. 2025’s budget forecasts a positive net income for the first time in the new location. But the profit margins we forecast are small (think half a percent of sales). Rising operating costs, potential economic shifts, and increased competition, all things primarily out of our control, can nudge our business out of balance. That means every shopping trip counts. When you shop at the co-op for your grocery needs on any given day, our business is one step closer to reaching its financial goals. It ensures that this first taste of potential success for our co-op will solidify as financial strength over the coming years.

Co-op Ends Statement

Our financial strength, in turn, allows the co-op to pursue our Ends. Beginning in 2024, the Co-op Board of Directors adopted a system of oversight called Policy Governance. Policy Governance formalizes the relationship between the General Manager and the Board, and it requires the Board to monitor all aspects of the operation in a timely and prudent fashion while clarifying expectations for the General Manager. It also sets broad goals for the organization that, in effect, serve as our mission statement. The Ends adopted by our Board read:

The Astoria Co-op empowers members and potential members to enhance their health and the health of the community.

The Astoria Co-op will:

• Create a thriving and cooperative local economy
• Be a local leader in environmental sustainability
• Provide a fun, inclusive, and authentic community experience

My job as General Manager is interpreting these statements and reporting on incremental progress each year. The message here is that the co-op’s positive impact on our community depends on our financial success. With your continued support, I look forward to sharing positive financial updates and meaningful progress on our Ends.

In Cooperation,

Matt

P.S. There are lots of ways to save at the co-op! Be sure you sign up for our e-newsletter, which includes weekly coupons and flash sales you won’t want to miss! Shop Co-op Deals and receive your 10% Owners Save More discount. Find Co+op Basics and Field Day products at low everyday prices. And you can’t miss our Buy-One-Get-One-Free promotions that greet you at the Co-op entrance!