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Coop Italia Cooperatives Report Sales Growth In 2020

By Branislav Pekic
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Coop Italia Cooperatives Report Sales Growth In 2020

Four of the eight cooperatives that constitute Coop Italia reported growth in retail sales in 2020.

Coop Lombardia ended the year with a 9.3% growth in production value to €1.05 billion. Net profit amounted to €6.9 million, up from €6.6 million in 2019.

During 2020, the cooperative merged 37 Coop Vicinato Lombardia (CVL) stores into its operations, and opened two new outlets.

Sales at Nova Coop amounted to €1.1 billion during the financial year, registering a growth of 3.48% compared with 2019. Net profit amounted to €6.1 million.

The cooperative benefited from a growth in sales across its network (+3.74%) and the impact of changing shopping habits, leading to an increase in the average basket in both supermarkets (+31.4%) and hypermarkets (+29.1%).

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Nova Coop operates 48 supermarkets, 16 hypermarkets, one Fiorfood and four Drive outlets.

Performance Of Other Cooperatives

Elsewhere, Unicoop Tirreno closed 2020 with a net profit of over €1 million, up from a loss of €4.8 million in 2019. Sales increased 0.5% year-on-year to €875.3 million.

The cooperative invested €9.6 million in 2020, of which €8.6 million was used to modernise its stores.

Unicoop Tirreno's store network comprises 94 shops in the Tuscany, Lazio and Umbria regions.

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Coop Alleanza 3.0 generated sales of €5.12 billion in 2020, up €203 million on the previous year.

EBITDA from core operations reached substantially closer to break-even, from a negative €120 million in 2018 to a negative €8 million in 2020.

Slow hypermarket sales contributed to its losses in 2018 and the cooperative adopted a four-year action plan (2019-2022) to tackle the situation.

EBIT recovered from a negative €217 million in 2018 to a negative €94 million in this period.

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Coop Alleanza 3.0 is expected to return to profit in 2022 as losses dropped significantly, settling at a loss of €132 million at a consolidated level.

Coop Italia comprises Unicoop Firenze, Coop Alleanza 3.0, Novacoop, Coop Liguria, Coop Lombardia, Coop Centro Italia, and Unicoop Tirreno.

© 2021 European Supermarket Magazine. Article by Branislav Pekic. For more Retail news click here. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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