Coop Switzerland Sees Revenue Top CHF 30bn For First Time
Coop Switzerland has said that 2018 revenues broke the CHF 30 billion (€26.7 billion) barrier for the first time, with net turnover in its retail business rising by 2.0% and wholesale and production turnover increasing by 9.0%.
Overall, revenues rose by 5.0% across full-year 2018, the group said.
Coop’s retail business posted CHF 17.8 billion worth of sales, with stores seeing traffic increase by 3.1%.
Net income at the retail operation reached CHF 10.4 billion, or CHF 83 million more than the previous years.
Specialised retail formats saw net income rose 3.8% to CHF 7.4 billion; its home electronics business posted net revenues of CHF 2.1 billion, while Coop Vitality pharmacies broke the CHF 200 million mark, with growth of 8.5% over the previous year.
In wholesale and production, net revenue stood at CHF 14.2 billion, with its TransGourmet Group seeing revenue of CHF 9.7 billion, an increase of 6.9%.
Coop’s private label and sustainability labels also posted a positive performance in the full year; turnover at its own-brand operation was up 6.8% to CHF 4.1 billion, with the turnover of Coop Naturaplan alone increasing by 17.1%.
Finally, in terms of online, Coop saw 20.4% growth to more than CHF 2.3 billion, with its online retail operation seeing turnover rise by 14.9% to CHF 2.3 billion.
Its Coop @ home online supermarket platform posted growth of 6.7%.
Coop will host a press conference on 19 February to formally announce the results.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.