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From #107, July-August 2003
Retail Operations Survey 2002 Statistics
Statistical Summary of Ratios, 2002
Statistical Summary of Income Statements, 2002
Statistical Summary of Balance Sheets, 2002
B Y P A T R I C I A C U M B I E A N D T H E D A T A A N A L Y S I S T E A M *
| small | Sales under $1 million | 8 co-ops |
| medium small | Sales $1-2 million | 12 co-ops |
| medium | Sales $2-4 million | 15 co-ops |
| medium large | Sales $4-7 million | 19 co-ops (20 stores) |
| large | Sales over $7 million | 14 co-ops (28 stores) |
Statistical Summary of Ratios, 2002 |
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|
|
Small | Medium Small |
Medium | Medium Large |
Large | ALL |
|
| Sales Growth |
|||||||
| Upper Quartile |
17.31% |
13.32% |
16.06% |
19.52% |
14.47% |
17.91% |
|
| Median |
10.02% |
11.66% |
11.25% |
13.75% |
12.62% |
11.92% |
|
| Lower Quartile |
7.24% |
5.76% |
3.45% |
6.69% |
7.89% |
6.25% |
|
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|
|
|
|
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|
|
Sales to Total Assets |
|||||||
| Upper Quartile |
4.19% |
5.72% |
5.90% |
5.12% |
5.42% |
5.40% |
|
| Median |
3.51% |
3.82% |
4.52% |
4.35% |
4.39% |
4.08% |
|
| Lower Quartile |
2.91% |
3.43% |
3.44% |
3.01% |
3.41% |
3.17% |
|
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|
|
|
|
|
|
|
|
Inventory Turnover (annualized) |
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| Upper Quartile |
10.68% |
11.18% |
17.14% |
16.83% |
20.81% |
16.79% |
|
| Median |
8.21% |
9.86% |
12.24% |
14.35% |
16.79% |
13.07% |
|
| Lower Quartile |
7.23% |
8.20% |
10.89% |
13.10% |
15.63% |
10.15% |
|
|
|
|
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|
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|
|
Accounts Payable Turns |
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| Upper Quartile |
13.61% |
27.12% |
14.06% |
23.31% |
22.92% |
18.20% |
|
| Median |
24.44% |
41.22% |
23.80% |
29.48% |
34.56% |
29.48% |
|
| Lower Quartile |
38.27% |
59.62% |
30.73% |
44.93% |
47.77% |
48.20% |
|
|
|
|
|
|
|
|
|
|
Current Ratio |
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| Upper Quartile |
3.92% |
6.10% |
4.02% |
2.67% |
2.33% |
3.73% |
|
| Median |
1.64% |
3.73% |
3.24% |
1.97% |
1.82% |
2.32% |
|
| Lower Quartile |
1.29% |
2.88% |
1.49% |
1.46% |
1.50% |
1.48% |
|
|
|
|
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|
|
Debt to Equity |
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| Upper Quartile |
4.23% |
0.82% |
1.11% |
2.53% |
1.62% |
2.03% |
|
| Median |
1.47% |
0.40% |
0.74% |
1.01% |
0.61% |
0.77% |
|
| Lower Quartile |
0.77% |
0.28% |
0.40% |
0.42% |
0.37% |
0.33% |
|
|
|
|
|
|
|
|
|
|
Return on Equity |
|||||||
| Upper Quartile |
72.25% |
17.68% |
29.29% |
28.87% |
22.54% |
25.47% |
|
| Median |
14.96% |
2.17% |
13.38% |
21.42% |
15.81% |
14.34% |
|
| Lower Quartile |
-7.54% |
-4.87% |
1.15% |
0.80% |
8.81% |
0.09% |
|
|
|
|
|
|
|
|
|
|
Return on Assets |
|||||||
| Upper Quartile |
10.77% |
12.55% |
13.89% |
12.88% |
14.64% |
12.79% |
|
| Median |
3.42% |
1.33% |
7.83% |
8.14% |
7.55% |
7.19% |
|
| Lower Quartile |
-6.65% |
-3.22% |
0.70% |
-0.01% |
3.37% |
-0.07% |
|
|
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|
|
|
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|
Gross Margin |
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| Upper Quartile |
36.98% |
36.80% |
37.44% |
38.64% |
38.96% |
38.04% |
|
| Median |
33.85% |
34.72% |
36.12% |
36.45% |
37.41% |
36.27% |
|
| Lower Quartile |
32.74% |
33.87% |
35.10% |
35.94% |
35.90% |
34.57% |
|
|
|
|
|
|
|
|
|
|
| Upper Quartile |
22.72% |
24.62% |
24.92% |
23.32% |
25.36% |
24.67% |
|
| Median |
22.18% |
24.18% |
21.96% |
22.52% |
24.53% |
22.91% |
|
| Lower Quartile |
21.63% |
23.15% |
21.55% |
21.13% |
22.50% |
21.80% |
|
|
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|
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|
Total Operating Expenses % |
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| Upper Quartile |
36.18% |
36.58% |
36.58% |
35.46% |
36.75% |
36.51% |
|
| Median |
34.55% |
35.03% |
35.06% |
34.99% |
36.21% |
35.04% |
|
| Lower Quartile |
31.57% |
33.94% |
30.92% |
33.44% |
32.98% |
32.88% |
|
|
|
|
|
|
|
|
|
|
Operating Margin |
|||||||
| Upper Quartile |
2.10% |
1.21% |
4.05% |
3.92% |
2.81% |
2.90% |
|
| Median |
0.35% |
0.79% |
1.81% |
2.37% |
2.40% |
1.81% |
|
| Lower Quartile |
-0.65% |
-0.84% |
0.70% |
1.05% |
1.72% |
0.42% |
|
|
|
|||||||
Net Margin |
|||||||
| Upper Quartile |
2.10% |
2.20% |
2.98% |
2.63% |
2.30% |
2.39% |
|
Median |
0.77% |
0.42% |
1.88% |
1.75% |
1.61% |
1.43% |
|
| Lower Quartile |
-2.22% |
-0.54% |
0.46% |
-0.17% |
0.93% |
-0.21% |
|
|
|
|||||||
Turns X Earns |
|||||||
| Upper Quartile |
3.47% |
3.97% |
6.37% |
6.03% |
7.47% |
6.04% |
|
| Median |
3.32% |
3.40% |
4.55% |
5.34% |
6.43% |
4.88% |
|
| Lower Quartile |
2.54% |
2.99% |
4.05% |
4.77% |
5.62% |
3.41% |
|
|
|
|||||||
EBITDA Percent |
|||||||
| Upper Quartile |
4.42% |
3.56% |
4.91% |
5.15% |
4.60% |
4.93% |
|
| Median |
2.42% |
1.46% |
4.26% |
4.37% |
3.76% |
3.55% |
|
|
Lower Quartile |
1.27% |
0.24% |
2.36% |
2.79% |
2.56% |
1.76% |
Statistical Summary of Income Statements, 2002 |
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|
|
Small | Medium Small |
Medium | Medium Large |
Large | ALL |
|
| Gross Profit |
|||||||
|
Sales, Surcharges, and Returns |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
|
|
Cost of Goods |
64.71% |
64.56% |
63.49% |
63.27% |
61.96% |
63.60% |
|
|
Gross Profit Total |
35.29% |
35.44% |
36.51% |
36.73% |
38.04% |
36.40% |
|
|
|
|||||||
Operating Expenses |
|||||||
|
Personnel |
22.57% |
23.92% |
22.79% |
21.36% |
24.62% |
23.05% |
|
|
Occupancy |
4.14% |
3.97% |
4.01% |
4.16% |
4.26% |
4.11% |
|
|
Depreciation and Amortization |
1.93% |
0.95% |
1.26% |
1.52% |
1.44% |
1.42% |
|
|
Operating |
2.23% |
2.25% |
2.29% |
2.18% |
2.31% |
2.25% |
|
|
Administration |
0.98% |
1.45% |
1.00% |
0.91% |
0.67% |
1.00% |
|
|
Governance |
0.43% |
0.48% |
0.47% |
0.51% |
0.68% |
0.51% |
|
|
Member Discounts |
1.39% |
0.87% |
0.86% |
1.04% |
0.61% |
0.95% |
|
|
Marketing |
1.29% |
1.15% |
1.32% |
1.21% |
1.26% |
1.25% |
|
|
Operating Expenses Total |
34.97% |
35.02% |
34.01% |
32.91% |
35.85% |
34.55% |
|
|
Operating Profit |
0.32% |
0.42% |
2.50% |
3.82% |
2.19% |
1.85% |
|
|
|
|||||||
Other Income, Expenses, and Taxes |
|||||||
|
Other Income |
0.98% |
0.98% |
0.52% |
0.42% |
0.99% |
0.78% |
|
|
Other Expenses |
|||||||
|
Interest Expense |
-0.57% |
-0.31% |
-0.37% |
-0.61% |
-0.41% |
-0.46% |
|
|
Taxes |
-0.12% |
-0.07% |
-0.48% |
-0.38% |
-0.54% |
-0.32% |
|
|
Misc. Other Expense |
-0.64% |
-0.32% |
-0.47% |
-0.38% |
-0.61% |
-0.48% |
|
|
Other Expenses Total |
-1.33% |
-0.70% | |||||