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Retail

Coop Switzerland Reports ‘Stable Profit’ In FY 2020

Coop Switzerland has posted a ‘stable profit’ of CHF539 million (€499.2 million) in its financial year 2020, with full-year group sales amounting to CHF30.2 billion (€28 billion).

Sales at Coop supermarkets grew by 14.3%, to CHF12.0 billion (€11.1 billion), and contributed to the retailer's performance during the financial year.

The company’s total retail sales increased by CHF1.1 billion (€1 billion) to CHF19.1 billion (€17.7 billion), up 6.3% year-on-year.

Divisional Performance

The wholesale/production division, which was impacted by the lockdown, reported sales worth CHF12.6 billion.

Net sales in the retailer’s production companies grew by CHF44.0 million to CHF 4.9 billion in 2020.

The Transgourmet Group generated net sales of CHF8.1 billion amid extensive pandemic-related restrictions in the catering industry.

The group’s online sales increased by 45.5% to CHF232 million, driven by the increased demand for home electronics.

Organic products generated sales amounting to more than CHF 2.0 billion, while the demand for sustainable products boosted sales by CHF738 million to CHF5.4 billion.

© 2021 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.

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