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Retail

Coop Italia Cooperatives Report Sales Growth In 2020

Four of the eight cooperatives that constitute Coop Italia reported growth in retail sales in 2020.

Coop Lombardia ended the year with a 9.3% growth in production value to €1.05 billion. Net profit amounted to €6.9 million, up from €6.6 million in 2019.

During 2020, the cooperative merged 37 Coop Vicinato Lombardia (CVL) stores into its operations, and opened two new outlets.

Sales at Nova Coop amounted to €1.1 billion during the financial year, registering a growth of 3.48% compared with 2019. Net profit amounted to €6.1 million.

The cooperative benefited from a growth in sales across its network (+3.74%) and the impact of changing shopping habits, leading to an increase in the average basket in both supermarkets (+31.4%) and hypermarkets (+29.1%).

Nova Coop operates 48 supermarkets, 16 hypermarkets, one Fiorfood and four Drive outlets.

Performance Of Other Cooperatives

Elsewhere, Unicoop Tirreno closed 2020 with a net profit of over €1 million, up from a loss of €4.8 million in 2019. Sales increased 0.5% year-on-year to €875.3 million.

The cooperative invested €9.6 million in 2020, of which €8.6 million was used to modernise its stores.

Unicoop Tirreno's store network comprises 94 shops in the Tuscany, Lazio and Umbria regions.

Coop Alleanza 3.0 generated sales of €5.12 billion in 2020, up €203 million on the previous year.

EBITDA from core operations reached substantially closer to break-even, from a negative €120 million in 2018 to a negative €8 million in 2020.

Slow hypermarket sales contributed to its losses in 2018 and the cooperative adopted a four-year action plan (2019-2022) to tackle the situation.

EBIT recovered from a negative €217 million in 2018 to a negative €94 million in this period.

Coop Alleanza 3.0 is expected to return to profit in 2022 as losses dropped significantly, settling at a loss of €132 million at a consolidated level.

Coop Italia comprises Unicoop Firenze, Coop Alleanza 3.0, Novacoop, Coop Liguria, Coop Lombardia, Coop Centro Italia, and Unicoop Tirreno.

© 2021 European Supermarket Magazine. Article by Branislav Pekic. For more Retail news click here. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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