date:Dec 17, 2013
The Los Angeles-based cooperative reported gross billings of $3.743 billion and net sales of $3.692 billion, a decrease of 1.4% and 1.9% respectively compared to the prior fiscal year ended September 29, 2012. The Company reported a net loss of $17.6 million, compared to earnings of $2.0 million for the same period in 2012.
The year-end financials are in line with our expectations, given the previously announced actions the Company took on some very important issues. These included a fee for th