Norwegian grocer Coop Norge has seen its market share rise by 1.52 percentage points in the past year, despite operating 28 fewer stores than a year earlier.
At the same time, competitor Rema saw its market share rise by 0.16 percentage points, despite operating 17 more stores, according to a Coop statement.
“It's been a fantastic year for Coop,” said Geir Inge Stokke, the company’s chief executive. “The result is unambiguous: Coop is the winner in the Norwegian grocery market in 2016.”
The group’s Coop Extra chain saw the biggest increase in market share, of 3.6 percentage points, which, Stokke said, was an indication of the success of the retailer’s ongoing strategy.
‘The figures show that we must establish more stores if we are to achieve the growth targets we have set ourselves for the future,” Stokke noted. “We therefore have an aggressive opening plan for the years ahead.”
Coop Norge recently paid the largest dividend yet to its 1.5 million members.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
