North West Company Releases Annual Report

NorthernTHUNDER BAY – Business Now – In Northern communities across Canada’s North, most have a Northern Store. The store serves as the major retailer in many communities, as well as the bank, and grocery store. The North West Company Inc. has released its audited consolidated financial statements for the year ended January 31, 2011, its Annual Management’s Discussion and Analysis, and Annual Information Form for the same period.

For the year ended January 31, 2011 the company reported sales of $ 1,448,104,000. This includes sales from all operations, not just the Northern Stores.

The company states, “In total, we employ more than 4,500 people with annual payroll costs of $102 million. North West has more than $392 million of capital invested in the retail operations that serve these communities and in 2010 we spent $60 million to purchase local goods and services. Our impact is greatest in Canada’s North. We are the region’s largest local employer with more than 3,000 employees and an annual payroll exceeding $65 million. We are also the
largest employer of First Nations and Inuit people in Canada.

“In addition, we also purchase goods and services of approximately $34 million in these communities annually”.

For more information visit www.northwest.ca

Summary Annual Report – Northern Stores