Swiss retailer Coop has booked an increase in full-year revenue as the demand for its organic products rose in 2010.
In the 12-month period, total sales climbed by 1.8% to CHF20bn (US$21bn). Retail sales rose by 2.1% to CHF18.6bn, despite the “weakening of consumer sentiment” in the second half of the year.
Organic sales were “above average”, the retailer said. The firm’s Natura Plan brand recorded revenue growth of 4%.
Sales to other retailers generated by Coop’s manufacturing division, including Bell Group, Halba and Pasta Gala however, fell by 2.4% to CHF1.4bn.
The sales, mainly made to retailers outside Switzerland, including German retailer Rewe, dropped due to the weak Euro and the conversion losses in Swiss francs.
The Coop Group opened 99 stores in 2010, bringing the total number of outlets to 1,914 at the end of the year.
Coop was yesterday given permission by the EU to assume full ownership of Germany-based food wholesaler TransGourmet.
