Financial Report

by Elka Malkis

Our store's fiscal year ended on June 30, 2007, so I won't have the 4th quarter's numbers in until early August (missing this issue's early July copy deadline). We have an outside CPA do a full audit every year, and the audited statements for the fiscal year will be finished in late September.

I do have a few preliminary numbers I'd like to share with you. Sales at the store for this fiscal year were just over $27,700,000. This is a small increase over the previous year's sales of $27,347,000. The average amount spent on each transaction was $30.27; last year it was $29.35. The average number of customers per day during the year was 2,556; last year it was 2,562. If any of you know those 6 people who shopped here last year but not this year, please tell them we miss them, and that there's room in the parking lot on Wednesdays and Thursdays.

At the Warehouse, we had sales of over $9,500,000. Our new online store, open for business this past October, had sales of $16,000.

We ended the year within shouting distance of 13,000 members. While I expect our Net Income to be a little lower than last year, since our overall expenses were up, I am confident that we can look forward to another healthy Patronage Refund this autumn.