Coop Netherlands saw group revenue surpass the €1 billion mark for the first time ever, after achieving a 5.3% increase in sales in 2017.
The retailer attributes this performance to its continued expansion plans and media campaigns, but added that profits fell slightly last year due to this increased investment.
Coop opened five new stores in the Netherlands during the year and renovated an additional 70, expanded its home delivery service, and launched a new shopping app.
Looking ahead, the group is anticipating this growth to continue, noting that turnover in the first 12 weeks of 2018 increased by 5% compared to the same period last year.
Expansion Plans
Fred Bosch, managing director of Coop Netherlands, said that growth will be boosted by the opening of several new Coop Vandaag city-format stores this year.
This includes three new outlets in Groningen, Sittard and Zwolle, which are set to open in the next two months.
Additionally, Coop is set to acquire 51 Emté stores from Dutch wholesale group Sligro, which will significantly expand the group's portfolio.
Coop, along with supermarket chain Jumbo, purchased the retail business from Sligro last month in a €410 million deal, and will divide the stores between the two companies over the course of next year, subject to approval from Dutch competition authorities.
The acquisition will bring Coop's store network to over 300 supermarkets in the Netherlands.
"This is a step that fits seamlessly with our ambition to put Coop even more firmly on the map," Bosch added.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
