Unicoop Firenze described the results as ‘encouraging’ in view of the current macro-economic environment with many elements of uncertainty.
Revenue increased 1.6% year-on-year to €2.52 billion, while net profit totalled over €25 million, or €17 million after taxes.
In order to help consumers cope with increase in the cost of living, Unicoop Firenze implemented several initiatives in December 2022 and lasting through 8 January 2023.
These included a total price freeze, €5 shopping vouchers and 30% discount on all Fior Fiore private-label products.
Although the total prize freeze ended on 8 January, Unicoop Firenze has rolled out new initiatives in favour of convenience and defence of purchasing power.
Until Easter, prices will be blocked on 700 products with a basket that includes branded, private-label and fresh products.
In addition, during January and February, with the ‘Giorni più buoni’ initiative consumers will be offered a €5 voucher for every €15 spent on branded products, up to a maximum of two vouchers per shopping cart.
Elsewhere, Italian retail cooperative and purchasing group D.IT - Distribuzione Italiana closed its financial year 2022 with a 3% increase in turnover, which it says exceeded initial forecasts.