Coop Switzerland Posts Sales Growth Of 1.3% In FY 2019
Coop Switzerland has reported currency-neutral sales growth of 1.3%, to CHF 30.7 billion (€28.3 billion), in financial year 2019.
The company's net sales in the retail trade grew by 1.4% to CHF 18.0 billion (€16.6 billion) during this period, driven by increased customer frequency in supermarkets and good performance in its specialist formats such as Livique and Lumimart.
Coop Switzerland's wholesale and production division posted sales growth of 2.6% to CHF 14.2 billion (€13.1 billion).
Its Transgourmet Group consolidated its position as the second-largest company in the pick-up and delivery wholesale business in Europe, the retail giant said.
The company's online business generated sales amounting to CHF 2.6 billion (€2.4 billion), up CHF 238 million (€219.33 million) compared with the previous year.
Net sales in the retail segment increased by 16.4% to CHF 914 million (€842.30 million), while sales at Coop @ home grew by 5.4%.
The online stores in its home electronics division, comprising microspot, nettoshop, Fust and InterDiscount posted sales growth of 17.5%, amounting to more than CHF 600 million (€552.93 million).
Its wholesale operation posted online sales of CHF 1.7 billion (€1.6 billion), up 7.1% compared with the previous year.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.