Coop Schweiz reported group turnover of CHF 25.9 billion (approximately €23.9 billion) for 2015, IGD has revealed in its Retail Analysis.
These results may represent a decrease of 4.6% on the previous year in nominal terms, but after adjustments is actually an increase of 1.4% for the Swiss retailer.
The Swiss National Bank’s decision to abandon its currency peg to the euro in 2015 had an effect across the domestic market. Coop also brought in price reductions amounting to CHF200 million during the year that would have impacted on results.
However, this helped the retailer attract new customers and boost footfall in its stores. Coop also opened 15 new stores during the year, bringing its total number of outlets in the country to 2,205.
The group’s retail business reported a nominal fall of 2.1% in turnover, but an increase of 0.9% in real terms. Meanwhile its wholesale arm, Transgourmet, saw turnover fall by 5.2% to CHF10.6 billion because of a decline in the Swiss currency, but adjusting for exchange effects shows a rise of 3.8%.
Finally, its online business reported turnover of CHF1.2 billion (around €1.1 billion), with coop@home seeing an increase in turnover of 5.5%.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.
