Successful financial year and 1 300 new jobs at Coop

15.02.2024 | from Coop Genossenschaft

15.02.2024, Coop continued to grow in 2023 and generated sales of CHF 34.7 billion. This equates to a rise of 2.2% after adjusting for exchange rates. The supermarket business and Wholesale / Production business area were major drivers in this. The organic own-label brand Naturaplan grew by a strong 9.2% in its anniversary year. At CHF 575 million, profit was higher than the previous year, despite high levels of investment in attractive prices. The profit will be fully reinvested in the company. The workforce grew to almost 96 000 employees, with Coop in Switzerland welcoming 948 additional members of staff.

The net sales of the Coop supermarkets, including Coop.ch, grew by CHF 278 million or 2.4% to CHF 11.8 billion. Total sales in the Wholesale / Production business area increased by 5.5% to CHF 16.6 billion after adjusting for exchange rates.

Sustainability net sales also rose by a substantial CHF 320 million to CHF 6.3 billion, meaning that Coop is still the clear number 1 in Switzerland for sustainability. Coop has the widest sustainable range in Swiss retail and the world's largest selection of Fairtrade goods.

Coop generated total sales of CHF 34.7 billion in 2023. Profit amounted to CHF 575 million, which is CHF 12 million more than in the previous year, meaning that, in a challenging economic environment, Coop has posted a slight increase in profits. Equity rose to 54.4% of total assets, which means that Coop is on a rock solid financial footing. As of the end of 2023, Coop had a total of 95 826 employees. The workforce increased by 1 318 staff, 948 of whom are employed in Switzerland.

Retail
At CHF 20.8 billion, total retail sales remained stable. The net sales of the Coop supermarkets, including Coop.ch, amounted to CHF 11.8 billion. This represents a year-on-year increase of 2.4%. Despite challenges on the purchasing markets, Coop was able to reduce the prices of more than 1 000 products and will continue to pursue consequently its price reduction strategy this year. The Prix Garantie entry- level own-label brand grew by 15.9% in 2023.

The specialist formats generated net sales of CHF 8.0 billion, which represents a decrease of 1.8% when adjusted for fuel. However, there was a positive growth in net sales in Coop City, Import Parfumerie, Coop Vitality, Update Fitness and the catering/restaurants and BâleHotels areas.

Wholesale / Production
Total sales in the Wholesale / Production business area increased by 5.5% to CHF 16.6 billion after adjusting for exchange rates. This equates to growth of CHF 568 million.

Transgourmet generated net sales of CHF 11.4 billion, an increase of 5.6% after adjusting for exchange rates. It was able to continue to successfully increase delivery volume, enabling the company to consolidate its strong position in the European cash & carry and wholesale supplies market.

Net sales of the manufacturing companies grew by CHF 256 million, or 5.8% after adjusting for exchange rates, to CHF 5.4 billion.

Online business
Coop's online business generated net sales of around CHF 5.4 billion, which is an increase of CHF 391 million. With over 21 000 products, online supermarket Coop.ch grew by 8.7%. The number of deliveries rose by 8.3%. In the Wholesale business area, net sales from online retail grew by 12.6%.

Sustainability
Sustainability net sales increased by CHF 320 million overall in 2023, to CHF 6.3 billion. This equates to growth of 5.4%. Net sales of the Coop Naturaplan organic own-label brand advanced by 9.2% in its 30th anniversary year. With around 21 500 products, Coop has the widest sustainable range in Swiss retail, meaning that it is still the clear market leader in Switzerland.

Contact:
Tel. +41 61 336 70 00 or media@coop.ch

--- END press release Successful financial year and 1 300 new jobs at Coop ---

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