Notes from the Board Meeting
March 2020
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At the board meeting on February 10th, I reported on the financial condition of the co-op for the fourth quarter of 2019. Daily has had two rough years. 2018’s sales decline burned through any buffer we had of retained earnings, and then the drastic sales decline of 2019 led to negative net profitability. The remodel couldn’t come at a better time.
We had good attendance from staff and members. There was great discussion about how to handle the closing of Earth Fare. We had good talking points for staff, and Outreach Coordinator Theo Horne developed a discount for former Earth Fare customers and staff for the last two weeks of February.
We know that this is a big loss for the Athens community, but we do also hope that people will come to see the value of a co-op that cannot be sold off by a remote private equity firm.
The next board meeting will be Monday, March 16th, at 5pm, at the Collective Harvest offices on West Broad.
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