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.
- General Mills US "priority" categories gain share
- Interview part 2: BRF CFO Augusto Ribeiro
- 2015 preview: A better deal for M&A sellers
- The just-food interview: Doux CEO Arnaud Marion
- Cleaning up Tesco will have mixed supplier impact
- General Mills outlines "aggressive" NPD drive
- Kraft to reappraise business, says new CEO Cahill
- General Mills earnings drop one-third
- PepsiCo opens snacks plant in Saudi Arabia
- Bimbo to buy Saputo's bakery arm