Coop Denmark (DK) has announced its results for full-year 2012, with CEO Jesper Lien saying earnings were “unsatisfactory”. However, the co-operative group posted revenue growth of 2.3 per cent to DKK 44.8 billion and increased market share for the seventh consecutive year.
Operating profit for the year slid to DKK 432 million from DKK 773 million in 2011.
Of the group’s banners, which include Kvickly, SuperBrugsen, Da, Fakta and Irma, and Coop, Facts, the discount chain, posted the biggest sales growth, with an increase of a half billion Danish krone.
Lien added, “Despite the downturn in 2012, we maintain our strategy of continuing to invest heavily in developing new benefits for members, establishment of new stores, refurbishment of existing stores, the development of our employees and the efficiency in IT and logistics.” (6 March)
© 2013 - ESM: European Supermarket Magazine by Sadhbh Connor
