SWITZ: Profits up at Swiss retailer Coop
Coop booked higher sales and profits in 2013
Coop, Switzerland's number two grocer, saw profits increase in 2013 amid higher sales and moves to control costs.
The company's profit reached CHF462m (US$519.3m), up 2.2% on 2012. Turnover, which included revenue from Coop's retail stores, wholesale and manufacturing subsidiaries like Switzerland-based meat processor Bell Group, inched up 0.9% to "nearly" CHF27bn.
Coop said booked a 1.7% increase in retail sales to CHF18.1bn for last year. Supermarket sales saw sales climb 1.6% to CHF11bn.
Retail margins dipped 0.2 points to 28.9% as Coop "launched several waves of price cuts" in what the company called "difficult" trading conditions.
Production margins were down 0.1 points at 23.5%. Bell, which reported its annual results earlier this week, reported what Coop called a "good result" with sales of EUR2.6bn, up 3.6%. Coop holds a 66% stake in Bell.
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- What next for Bernard Matthews? - comment
- Why Danone is withdrawing Dumex from Vietnam
- Fonterra says value-added strategy paying off
- Ireland unveils national plan to tackle obesity
- B&G Foods acquires ABF's US spice business
- Nestle close to finalising Garoto deal
- Gen Mills uses NPD, renovation to heat soup sales
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Foodservice Market 2016-2020
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review
- Global Food and Drinks Closures: Performance and Opportunities