The first quarter of Fiscal Year 2017 ended with sales of $8,935,872. The Arcata store sales were 6% above last year’s sales and the Eureka store exceeded last year’s sales by 3.2%. Total revenue for the first quarter exceeded projected budget by 5%. In summary, our combined quarterly store sales are higher than projected by $395,627. Expenses increased over budget by $237,158 due to the cost of increased sales. First quarter reflected a net profit of $132,747 in comparison to last year’s first quarter profit of $68,739.
Hope everyone will join us at the Annual Membership Meeting on October 22. It’s always a great event, with exceptional food.