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The retail giant finished 2023 positively: Profit increased by 12 million compared to the previous year, reaching 575 million francs. The Basel retailer announced this on Thursday.
The retail giant announced sales for 2023 at the beginning of January: total sales increased by 2.2 percent to 34.7 billion francs after adjusting for exchange rate effects. Especially wholesale trade developed positively.
Internet market has grown
Retail sales remained stable at CHF 20.8 billion. Sales include sales in all supermarkets, specialty stores and online stores.
When you look at Coop supermarkets alone, there was a slight increase of 2.4 percent: net sales reached 11.8 billion francs. Coop reduced prices on more than 1,000 products during the year, despite difficulties in the supply market.
The affordable Prix Garantie brand grew by 15.9 percent in 2023. The online market “coop.ch” also grew significantly: sales increased by 8.7 percent, reaching 5.4 billion francs.
Organic own brand Naturaplan, which celebrated its 30th anniversary last year, also made gains. Sales increased by 9.2 percent. According to the retailer’s statement, the overall sustainability area increased by 5.4 percent, reaching 320 million francs. Coop claims to have the widest sustainability range in Swiss retail, with 21,500 products.
Slight decrease in sales in specialist stores
A similar picture emerges for Coop’s specialist formats: they generated sales of 8.0 billion francs. Adjusted for fuel, this represents a slight decrease of 1.8 percent. Coop City, Import Parfumerie, Coop Vitality, Update Fitness and the catering sector have developed positively.
Coop also emphasizes that the number of employees increased by 1,318 people. 948 of them work in Switzerland. The retailer employed a total of 95,826 people at the end of last year.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
