Coop Netherlands Sees 19% Growth In Turnover In 2019
Coop Netherlands has reported turnover of €1.54 billion, up 19% year-on-year, in its financial year 2019, compared to €1.26 billion for the previous year.
The retailer added 24 new stores to its network, taking its total store count to 314 by the end of 2019.
It saw an 11% year-on-year increase in consumer turnover, amounting to €147 million, during the financial year.
This growth is almost three times faster than the market, which according to Nielsen is growing at a rate of 4%, the retailer said.
Growth In Market Share
Coop Netherlands' market share increased to 3.7%, touching a record high of 4.2% in the summer.
In the first half of 2019, the retailer also completed the conversion of the remaining EMTÉ stores it acquired in 2018.
The retailer's online sales grew twice as fast as the home-delivery market in 2019 and is by far the 'largest store' of the organisation, the retailer said.
Coop Netherlands also reported that around 50% of its online customers used its in-house app to place orders.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.