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Retail

Coop Switzerland Sees Sales Up 5.6 % In 2021

Coop Switzerland has reported year-on-year sales growth of 5.6% to CHF 31.9 billion (€30.4 billion) in its 2021 financial year, with profit amounting to CHF 559 million (€532.9 million).

Total retail sales increased by CHF 506 million to CHF 19.6 billion (€18.7 billion), while its online business posted sales of around CHF 3 billion (€2.87 billion), an increase of CHF 353 million.

Net sales in Coop supermarkets including Coop.ch amounted to CHF 12.1 billion (€11.56 billion), slightly lower than in the preceding year, the retailer said in a statement.

It reduced the prices of over 1,500 products and passed on around CHF 130 million to its customers through price reductions.

The company’s specialist formats achieved net sales of CHF 7.5 billion (€7.17 billion), up 8.6% year-on-year, compensating for the temporary drop in sales during the second COVID-19 lockdown.

Its Coop City, Livique / Lumimart, Christ Watches & Jewellery and Coop Vitality businesses all posted significant sales growth, the retailer added.

Divisional Performance

Coop’s wholesale and production segment posted sales of CHF 13.7 billion (€13.09 billion), with the business seeing recovery amid pandemic-related restrictions.

Sales of organic products rose to CHF 2.1 billion, while sales of sustainability products increased by CHF 409 million to CHF 5.9 billion.

Its Transgourmet arm generated net sales of CHF 9.1 billion, up 12.2% year-on-year, recovering from pandemic-related closures in the European foodservice sector.

Net sales from production operations grew by CHF 99 million and amounted to approximately CHF 5 billion, the company added.

Read More: Coop Switzerland Publishes Second Plant-Based Food Report

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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