Federated Co-op reports strong profits on flat 2023 sales

Federated Coop HeadquartersThis week, Federated Co-operatives Ltd. held its 95th annual meeting and shared the co-op’s 2023 financial results. FCL reported $12.46 billion in total sales for 2023, down slightly from $12.52 billion a year earlier. However, net earnings were up more than 90 percent to $781 million.

Based on these results, the company distributed $399 million in patronage back to local co-ops. Home and Building Solutions, the division that serves FCL’s home centres, experienced a dip in sales from 2022.

(Get further details on the performance of FCL’s home centre business in Monday’s edition of our sister publication, Hardlines Weekly Report. This insider intel is exclusive to our Premium Members. Click here to learn more for yourself!)