February 6, 2023
In the fourth quarter of 2022 historically high inflation continued. Throughout the year, we raised prices where possible. In 2022 we were locked into catalog prices at the Amana Meat Shop and had contracted wholesale prices at the Amana Furniture Shop, which hurt margins during the early part of the year. December always has a way of helping to play catchup at both the Meat Shop and in our retail businesses. Looking ahead to 2023, the organization is in a strong financial position. We remain watchful of the overall health of the consumer as interest rates have continued to rise and inflation, although sticky, has begun to pull back from its 40-year high.