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First Week in January Lower

Independent grocers are reporting that in the first week of 2016, same store sales were down 0.55 percent compared to the same period in 2015. Customer counts, on the other hand, were up over four percent.

As many folks on the East Coast prepare for a snowstorm, it’s worth reiterating that winter weather can cause big shifts in sales, as customers may stock up one week and be hunkered down in their houses the following week.

Same Store Sales
% Change from last year

Same Store Sales – Previous Months

2016 Independent Grocers Financial
Survey Now Open

FMS and NGA invite you to participate in the 2016 Independent Grocers Financial Survey. The survey has been a joint effort between FMS and the National Grocers Association for the past eleven years and has become a critical benchmarking tool for independent grocers. The information you provide gives you and your fellow independent grocers valuable insights on the health of our industry and important benchmarking data for your company.

As always, your data will be completely anonymous and no identifying information will be included in the survey or shared with anyone.

The deadline to complete the questionnaire is February 17, 2016.

To participate, click here: www.fmssolutions.com/2016survey

BGBC Partners Tax Update: More on the Charitable Food Inventory Deduction

As we noted in the last segment of our Tax Updates, one of the items included in the recently enacted “Protecting Americans from Tax Hikes Act of 2015” (“Path Act”), was a change to the Charitable Food Inventory Deduction. Since this deduction has been permanently extended, and due to the importance to the grocer industry, we felt that it would be beneficial to discuss a few of the basic requirements for taking this deduction.

The Tax Code allows this charitable deduction only if the food is “Apparently Wholesome” which simply means that the food is: (a) intended for human consumption and (b) meets all quality and labeling standards imposed by Federal, State, and local laws and regulations.

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