Coop Italia ended 2021 with a total turnover of €14.3 billion, slightly down on the previous year’s €14.4 billion, of which €13.2 billion was derived from retail activities.
The association of 78 cooperatives managed to slightly increase its market share in the large-scale retail sector, to 12.5%, up from 12.4% the previous year.
Rival retailer Conad reported a turnover of €17 billion last year.
Private label sales reached €3 billion, and accounted for 30% of the retailer's in-store sales, compared to 27.5% in 2020. According to the retailer, its goal is to reach 50% private label share.
As of the end of 2021, Coop Italia had more than 6.4 million members, with shareholders equity rising to almost €6.6 billion.
The 2021 financial report shows that all large and medium-sized cooperatives within its organisation have broken even or are close to doing so.
Aggregate operating profit was positive again after four years and amounts to half a percentage point of sales, while overall EBITDA approached 5%.
Repositioning The Business
For Coop Italia, the year 2021 also saw the launch of the repositioning project that will bring about 5,000 new products to the retailer's shelves, increasing the existing offer by 50%.
The new private label products will both cover entire market segments that were not covered by a supermarket brand, as well as see the significant expansion of existing ranges.
Announcing its results, the General Shareholders Assembly of Coop Italia confirmed Marco Pedroni as president, Antonio Bomarsi as vice-president, and Maura Latini as managing director.
© 2022 European Supermarket Magazine – your source for the latest Retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.