DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Nova Coop Announces Bonus For Workers

By Dave Simpson
Share this article
Nova Coop Announces Bonus For Workers

Italian consumer cooperative Nova Coop has allocated a €200 bonus for approximately 5,000 employees and workers on a continuous basis, for a total value of approximately €1 million.

Allocated by the Nova Coop chairman, in agreement with the board of directors, the bonus aims to help meet rising costs of goods and services that is eroding the purchasing power of families.

Nova Aeg, which is a company operating in the electricity and gas sector controlled by Nova Coop, has also extended this bonus to its approximately 50 staff members, Nova Coop noted.

'Well Aware Of The Combined Effects'

Nova Coop president, Ernesto Dalle Rive, stated, "As a large-scale distribution company, we are well aware of the combined effects that the difficulties in supplying the logistics chains of raw materials, the increase in energy sources and the war in Ukraine have triggered, leading to the current inflationary dynamic which manifests itself in a generalised increase in prices and which, in recent months, we have been the first to work to mitigate, absorbing part of the price rises and accepting the reduction in our margins."

The consumer cooperative reported total consolidated sales of €1.8 billion and a net profit of €16.3 million for its full-year 2021.

ADVERTISEMENT

The group's e-commerce channel continued the growth trend seen during the pandemic (+11.1%), while home grocery delivery now covers 300 municipalities in the five Piedmont provinces of Turin, Novara, Vercelli, Biella and Cuneo.

Read More: Portuguese Shopping Basket Declines, Consumers Opt For Private Label

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

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.