Retail

Coop Norway Increases Number Of Members To Almost 1.6 Million

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Coop Norway has announced that 50,000 customers have become co-owners of the retail cooperative in the first half of 2017, and expects that it will pass 1.6 million members this year.

"Coop is the Norwegian food chain that is different," said Harald Kristiansen, communications manager for Coop Norway.

"We are not owned by a few, but by our nearly 1.6 million members and co-owners. The first half of the year has been fantastic and it is time to pay dividend payments for 2017."

Financial Performance

Coop Norway reports that accumulated buy-back for the first half of the year is NOK 430 million, which it says represents a 'solid increase' compared with the same period in 2016.

Last year, the retailer posted a pre-tax profit increase of NOK 2.1 billion (€230 million), with the group's total revenue rising NOK 4.9 billion to NOK 58 billion (€6.32 billion) for the full year.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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