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.
During 2014, Coop Italia continued to look at improving and increasing its private label range. Coop is the leading player in Italy for private label products, with its three main lines Moneta Che Rid...
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