Thu, Feb 15th 2024
Coop Switzerland marks a successful 2023 with a 2.2% sales increase, expansion in workforce, reinforcing its market leadership in sustainability and retail innovation.
Coop Switzerland, particularly wholesale; is planning to invest heavily in improving its own logistics. At the annual media conference, Coop CEO Philipp Wyss spoke of investments totaling 800 million Swiss francs over the next three years.
For example, a large sum will be invested in the distribution center in Wangen bei Olten, which is important for the logistics of non-food items. However, the regional distribution center in Schafisheim AG and the logistics of meat processor Bell are also to be further expanded or improved.
Significant investments are also planned for a new building in Regensdorf ZH, where deliveries for the online supermarket Coop.ch will be handled. According to Wyss, this project should be completed by 2029 at the latest.
“The investments also serve to speed up the logistics for fresh products,”
Philipp Wyss, CEO
He cited the lead time for meat deliveries to Coop stores as an example. In future, it would be sufficient for meat orders to be sent to the stores on the afternoon of the previous day so that the goods arrive in the stores on time.
Coop claim they are making positive strides: Sales of of CHF 34.7 billion, a 2.2% increase when adjusted for exchange rates in 2023. The supermarket and Wholesale / Production sectors were pivotal in this growth.
Naturaplan, the organic label, soared by 9.2%. According to the Coop Press Release Profits reached CHF 575 million, up from the prior year, fueled by strategic investments in price competitiveness.
The workforce expanded to nearly 96,000, with 948 new hires in Switzerland, showcasing Coop’s role as a significant employer. Supermarket sales, including Coop.ch, rose by 2.4% to CHF 11.8 billion. The Wholesale / Production area saw a 5.5% jump to CHF 16.6 billion, adjusting for exchange rates.
Sustainability efforts paid off, with sales in this segment climbing by CHF 320 million to CHF 6.3 billion, cementing Coop’s position as Switzerland’s sustainability frontrunner. Equity improved, reaching 54.4% of total assets.
Retail sales held steady at CHF 20.8 billion, with Coop supermarkets and Coop.ch posting a 2.4% increase. The Prix Garantie brand saw a remarkable 15.9% growth.
The Wholesale / Production sector flourished, with a 5.5% increase to CHF 16.6 billion. Transgourmet, particularly, strengthened in Europe and online ventures sales are at CHF 5.4 billion.
©Keystone/SDA
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