Coop Switzerland Boosted By Online Sales In 'Challenging' Year
Coop Switzerland said that sales in its Coop.ch online channel were up 42.6% last year, as the group's supermarkets offset 'challenging conditions' to see double digit growth.
Coop saw 14.4% sales growth across its supermarket banners, to CHF 12.0 billion, while the overall group posted sales of CHF 30.2 billion (€27.9 billion), a 0.2% decline.
The group's specialist formats achieved net sales of CHF 7.1 billion, approximately a 5% decline on the previous year, however some businesses achieved a 'marked growth' in sales, it added.
These included Coop Bau + Hobby, Livique / Lumimart, Interdiscount, Betty Bossi and Coop Vitality.
In the home electronics sector, its online banners, Microspot, Nettoshop, Fust and Interdiscount, saw sales up by 33.0%.
In wholesale and production, sales came in at CHF 12.6 billion, a decline of approximately 11%, which was achieved 'despite far-reaching, pandemic-related restrictions in the catering trade', Coop said.
Coop added that it remains the 'undisputed number one in the field of sustainability' in Switzerland, as sales of sustainable and sustainably-sourced products were up CHF 500 million to CHF 5.2 billion.
Commenting on its performance, Coop said that its "retail trade largely compensated for the challenging conditions in its own gastronomy and in the wholesale/production division. Coop achieved a record turnover in the field of sustainability and exceeds the CHF 5 billion mark for the first time."
Last November saw Coop appoint Joos Sutter as the new chairman of its board of directors, on top of his role as chairman of the company's management board.
He will assume the new position in May, following the resignation of Hansueli Loosli.
Elsewhere, Philipp Wyss will succeed Sutter as the chairman of the management board of Coop Group Cooperative, also effective May 2021.
The group will announce its full results for the year on 16 February.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.