Dutch Retailer Coop Sees Turnover Up 18% In 2018
Dutch retailer Coop has posted an 18% increase in turnover in full-year 2018, reporting sales of €1.4 billion for the period.
This is €200 million higher than the previous year, and it includes the combined turnover of its Coop store network and the 51 EMTÉ stores acquired since the beginning of July 2018.
As of the end of 2018, 19 EMTÉ stores have been converted to Coop branding.
Overall, Coop operates a total of 290 stores as of the close of 2018 – a net increase of 27 on the previous year.
‘The organic growth of Coop was also above market growth,’ read a Coop statement.
‘This was achieved partly due to continued investment in the existing store base and the visibility of Coop's appealing cooperative brand values,’ the statement continued.
The retailer added that ‘strong marketing efforts’ have helped raise its customer numbers and positive feedback.
“Coop has grown enormously over the past year [...] through the acquisition of EMTÉ stores, as well as with the city concept, Coop Vandaag, and online,” said Herco Boer, financial director at Coop Netherlands.
“The integration of the EMTÉ supermarkets within the organisation is proceeding according to plan. In the first half of 2019, the conversion of EMTÉ stores to Coop will be completed. This means that Coop will open its 300th supermarket in the first half of 2019,” added Boer.
Coop will hold its AGM on 4 April.
© 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.