Coop Switzerland has announced its 2018 revenues surpassed the CHF30bn (€26.7bn) mark for the first time. Across its businesses, net turnover rose by 5% in FY2018. The retailer will officially announce its results on 19 February 2019.
Retail and wholesale performing well
In the retail business, net income increased by 2% to reach CHF17.8bn (€15.8bn). Coop’s supermarkets saw their traffic increase by 3.1%, and Coop’s specialised formats saw a 3.8% rise in net income. Coop’s Vitality pharmacies showed the strongest growth from FY2017, with 8.5%.
In the wholesale and production business net income increased by 9% to reach CHF14.2bn (€12.6bn). The Transgourmet Group generates the most income for Coop’s wholesale and production sector. In 2018 it consolidated its second-place market position in Europe’s self-service and wholesaling sector.
Private label growth and online success
Coop said that its private label ranges and labels with a sustainable focus grew well in FY2018, with their combined turnover up 6.8% to CHF4.1bn (€3.6bn). The Naturaplan label grew 17.1%.
The online business grew 20.4%, with net turnover over CHF2.3bn (€2.0bn). Online growth was reflected in both the retail and trade sectors. In the retail business, net income increased by 14.9% to CHF782m (€695m), and in wholesale, net income increased by 23.4% to over CHF1.5bn (€1.3bn).
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