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.
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The strategic direction of Coop Norge Handel AS is to continue to improve profitability of all its business models and to continue growing in 2013. The company wants to increase the number of members ...
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Coop’s strategic direction is based on its “Profitability Programme” which consists of improving profitability and increasing growth. In 2012 the Profitability Programme was still in full force. The c...
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