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Jan 9, 2024 · Coop Switzerland has reported total sales of CHF34.7bn in its latest annual results, up 1.4%, or CHF495m, on the previous year. For retail excluding fuels, net sales rose by 1%, the retail co-op adds.
At CHF 575 million, profit was higher than the previous year, despite high levels of investment in attractive prices. The profit will be fully reinvested in the company. The workforce grew to almost 96 000 employees, with Coop in Switzerland welcoming 948 additional members of staff.
Coop's online business posted sales of around CHF 5 billion, an increase of CHF 1.2 billion. With over 18,000 products, online supermarket Coop.ch grew by 8.5%. Customer orders rose by 12.5%. In the wholesale business area, online sales grew by 55.2%.
- Wholesale Expansion
- Challenging Conditions
- Is The Price Right?
- Discounters
But stepping into foreign markets also contains risks. Migros tried it in the 1990s and got burnt, losing SFr300 million in Austria. “The important thing to bear in mind is that neither Coop nor Migros wants to expand abroad as supermarkets,” Damian Künzi, an analyst at Credit Suisse, told swissinfo.ch. “The transGourmet deal is a wholesale expansi...
Künzi said there were two main challenges for retailers thinking of expanding abroad. “First, you have to know the local market and consumers very well and you obviously need the corresponding experience. It’s not enough to simply move a tried-and-tested concept from the domestic market to a foreign one,” he said. “Second, foreign markets are also ...
That said, food in Switzerland remains around 45 per cent more expensive than the average in the rest of western Europe, according to the UBS survey. Künzi points out that this disparity is less eye-watering when one compares Switzerland with its four neighbours: prices are on average 11 per cent higher in the Swiss retail trade as a whole and 19 p...
The arrival of the German budget retailers Aldi and Lidl – in 2005 and 2009 respectively – “shook up” the Swiss food business, as Künzi put it. “Even the announcement that they would be coming had a big effect. Coop and Migros reacted by introducing cheap and premium lines and carried out spectacular acquisitions: Denner for Migros and the Carrefou...
Jan 9, 2023 · Coop Switzerland has reported total sales of CHF 34.2bn for the 2022 financial year, an increase of CHF 2.3bn or 7.3% on the previous year. It says the growth was driven by strong performances in its retail arm, where net sales rose by 1.6%, and its wholesale/production business, which grew net sales by 14.6%.
Feb 16, 2022 · Coop Switzerland has reported year-on-year sales growth of 5.6% to CHF 31.9 billion in its financial year 2021, with profit amounting to CHF 559 million.
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Firmly rooted in Switzerland, the Coop Group can look back on a history spanning over 150 years. What began as a small consumer cooperative is now an international retail and wholesale business.
