SWITZ: Store increase boosts Coop profit
By: just-food.com | 19 February 2009
Switzerland's second-largest retailer Coop-Gruppe has posted an increase in net profit of 11.4% for 2008.
The group reported net profit of CHF390m (US$331m) and net sales of CHF19.3bn - an increase of 15.6% on the previous year. The figures were helped by an increase in the number of the group's outlets to 1,885.
Coop's market share increased 1.5 percentage points to 17.2%, partly boosted by taking over 12 stores previously owned by French hypermarket chain Carrefour. Its share of the food market reached 21.9%.
Operating cash flow (EBITDA) stood at CHF1.6bn francs - up 13% over the previous year.
"The sales figures confirm once again that we are on the correct path," the company said in a statement on Tuesday (17 February).
The group's organic foods division posted a growth of 9%, representing a turnover of CHF722m.
Sectors: Retail
Companies: Carrefour
View next/previous articles
19 Feb 2009 -
19 Feb 2009 -
Currently reading -
SWITZ: Store increase boosts Coop profit
19 Feb 2009 -
19 Feb 2009 -
Related research
Private Labels in Retailing 2009
Verdict Research: This new report provides a useful insight into the latest private label developments of retailers across different sectors including food & grocery, electricals and DIY. With a number of case studies spanning across different countr...
There are currently no comments on this article
Be the first to comment on this article