SWITZ: Coop "defends position" as sales rise in 2013
Coop noted "the fierce competitive struggle" between grocers in Switzerland
Coop, Switzerland's number two grocer, said it had "defended its position" during 2013 as its sales increased in a market of falling prices.
The company, which engages in retail, wholesaling and production, booked a 1.7% increase in retail sales to CHF18.1bn for last year.
"Given the continued decline in prices, which reached 6.6% in some specialist formats, and the fierce struggle between competitors, Coop has again defended itself in the Swiss retail market," the company said yesterday (6 January).
Coop's 826-strong supermarket network saw sales increase 1.5% to CHF10.6bn.
The company's total net turnover, including retail, wholesale and production, was up 0.8% at CHF26.9bn.
Coop will report its full annual results on 25 February.
- Analysis: Is Heinz, Kraft merger "a growth story"?
- McDonald's antibiotics move may be seminal moment
- M&A Watch: Who could be on 3G Capital's radar?
- Viewpoint: Faber-led Danone gets realistic
- Green Giant talk underlines pressure at Gen Mills
- UPDATE: Heinz, Kraft strike merger agreement
- Kraft "in buyout talks" with Heinz owner 3G
- Heinz to cut 71 jobs at UK plant
- Infographic: Heinz, Kraft unveil combined business
- Buffett: Kraft Heinz to withstand health focus