Ensure an economically viable and resilient business model in the short and long-term.
As a co-operative business, we have a different economic and financial structure than many other businesses. We don’t aim to maximize profit. However, we operate in the same market environment as other businesses and must ensure we have a robust balance sheet and sufficient annual surplus to enable us to invest in the future. In key areas, our performance needs to be the same or better than our competitors.
MEC needs to ensure economic feasibility and ongoing community investment at a time of much volatility – with changing markets, varying exchange rates, fluctuating spending patterns, and increased competition. Our success depends on strong cash flow, effective movement of inventory, ongoing store development and productive use of floor space, investment in product development and management of costs of goods, investment in appropriate information technology, employment and training of engaged store staff, and integrity and trust with our members and stakeholders. Our financial overview demonstrates how we prioritize investments and expenses to achieve this. We have the simple but important mandate of providing great gear to help people live active outdoor lives. To do this, we need to have a strong financial base and be economically viable – today and well into the future.