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.
Coop is in the process of transforming the outlets of some of its franchise partners which operate small, old-fashioned corner shops in order to develop collectively into an even more competitive reta...
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 ...
Coop is the leader in grocery retailing in Italy, being particularly strong within the hypermarkets channel. The difficult economic situation in Italy impacted Coop’s total sales. However, the company...
The leading private label player in Denmark, Coop Danmark aims to maintain its position as the leading grocery retailer in Denmark through building on its image as a socially responsible retailer whic...
Coop Sverige aims to increase its share of grocery retailing, focusing on its loyalty programme, expansion of private label product assortments and in general improving its product selection to cater ...
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...
- Deal or no deal: Frozen sale makes sense for Kerry
- JBS sees big opportunity from Primo Smallgoods
- Interview part 1: BRF CFO Augusto Ribeiro
- Comment: Why Gardein is Pinnacle's ideal fodder
- BRICs: The thinking behind Mondelez's Vietnam deal
- Danone, General Mills, Chobani "mislead parents"
- Kellogg trumps Abraaj bid for Bisco Misr
- Kerry puts frozen food unit on block - reports
- United Biscuits UK plant to start strike action
- Wrigley opposes Perfetti Van Melle "WTF" TM