Coop Switzerland has posted a turnover of CHF 29.2 billion for full year 2017, an increase of 3.0% on the previous 12-month period, the company said in a statement.
In its retail business, Coop Switzerland was up 1.4%, while its wholesale trade and production business saw an increase of 6.0%.
Its retail division saw a turnover of CHF 17.4 billion, with the Coop branded banner seeing traffic increase by 5.7% and net income rise to CHF 10.3 billion.
Specialised formats saw their net income grow 2.8% to CHF 7.1 billion, while in home electronics, Coop saw net revenues rise to more than CHF 2.0 billion.
The group also posted a promising performance from its online operations. Its coop @ home online supermarket posted growth of 10.5%, while its online homewares and home electronics businesses, which include Microspot, Nettoshop, Fust et Interdiscount, saw an increase of 22.8%.
Leading its wholesale and production division was the Transgourmet Group operation, which generated net income of CHF 9.1 billion, an increase of 6.0%.
Coop Switzerland also noted that sales of sustainable own brands are on the rise across its operations, with these products seeing a turnover increase of 5.6% to CHF 3.7 billion Swiss francs.
© 2018 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.