The Swiss retailer has reported a sales increase of 5.2% for 2016.
Growth driven primarily by wholesale and production units
Coop Schweiz saw sales of CHF28.3bn (EUR26.6bn) in 2016, an increase of 5.2%. Operating profit grew 6.6% to CHF763m (EUR717) and net profit saw a significant increase of 14.2% to CHF475m (EUR446). The wholesale and production units helped drive sales, with growth of 15.4%.
Mixed retail performance
Sales for Coop Schweiz's retail operations were flat, at CHF17.2bn (EUR16.2bn) for the year. Supermarkets saw a slight decline of 0.2%, but specialist formats increased by 0.4%. Supermarkets were still able to gain market share during the year, driven by a 2.6% rise in customer footfall.
New initiatives for 2017
The retailer is increasing its multichannel presence, launching a new online culinary platform named 'Fooby'. The new service will help link the customers experience between stores and the main website. It can be used to find recipes, create lists and order shopping online. It also an interactive sharing platform, with customers able to upload blogs and videos sharing their culinary adventures. Coop Schweiz is also using social media to promote events and its online newsletter, creating a strong online presence.