Coop Alleanza 3.0, Italy’s largest consumer cooperative and grocery retailer, has reported sales of €4.7 billion in its first financial year.
At group level, including sales in the fuel, tourism and bookshop sectors, the figure reached €5.1 billion (up 8% on 2015). Total profit exceeded €14.8 million, according to a company press release.
Last year, the cooperative invested around €100 million into restructuring and innovating its store network. Some 19 new stores were opened and 24 were restyled. The restructuring work also involved hypermarkets and supermarkets owned by subsidiaries.
At the end of December 2016, Coop Alleanza 3.0 had 427 stores in 12 Italian regions (including those owned by subsidiaries) and more than 22,000 employees.
Coop Alleanza 3.0 was set up on 1 January 2016 after the merger of regional cooperatives Coop Adriatica, Coop Consumatori Nordest and Coop Estense.
The 2017-2019 business plan includes €875 million in investments.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.