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February Week 2 Down

The second week of February didn’t continue the month’s strong opening week, with independent grocers reporting their same store sales were down 1.78 percent compared to the same week in 2015. Customer counts were similar – down 1.26 percent.

The Bureau of Labor Statistics’ January consumer price index report showed that food at home prices are continuing to fall. In January, prices were down 0.2 percent caused be declines in meat/poultry/fish/eggs (-1.3 percent), cereal/bakery (-0.2 percent), dairy (-0.2 percent), nonalcoholic beverages (-0.2 percent), and other (-0.2 percent). The only group to increase over the past month was fruits/vegetables (+1.3 percent). In the past 12 months, food at home prices have decreased 0.5 percent.

The index for all items was unchanged in January as food at home prices and energy continued to decrease.

Same Store Sales
% Change from last year

Same Store Sales – Previous Months

FMS/NGA Financial Track at the NGA Show

FMS will be offering workshops to attendees of the 2016 NGA Show on Sunday and Monday. Eligible participants can earn up to four continuing professional education credits (CPEs) for attending! Come to our workshops to learn about taxes, HR, back office, and financial benchmarking that affect your business. The schedule is as follows:

Sunday, February 28
                12:30 – 2:00 PM: Let Your Business Soar –
                                            Tackle Shifting Labor Laws
                2:00 – 3:15 PM: Buy-Sell (Redemption) Agreements
                3:30 – 4:14 PM: Best in Class Back Office
Monday, February 29
                8:15 – 9:15 AM: Financial Benchmarks

To learn more about the FMS/NGA Financial Track at the 2016 NGA Show, click here

BGBC Partners Tax Update: “Obamacare” Refresher and New Deadlines

You may have heard that the IRS recently extended certain filing deadlines. We thought this might be a great time to provide a brief refresher of the Affordable Care Act as it might pertain to your store, and a discussion of these new deadlines.

First, let’s start with a quick refresher. The Affordable Care Act is a set of health insurance reforms which are to encourage businesses to provide health care coverage to their employees. More specifically, for those employers with 50 or more employees, the reform, from March 2010, brought with it certain tax provisions.

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