Net Profit Up 2.2% At Switzerland's Coop

Higher sales at Switzerland's second largest retailer Coop helped increase full year profits in 2013…

Higher sales at Switzerland's second largest retailer Coop helped increase full year profits in 2013.

Net profit for the full financial year reached CHF462 million (€377.29 million) which represents a 2.2% increase from 2012.

Revenue, which included the sales figures from Coop's various food retail and manufacturing subsidiaries, was up 0.9% to CHF27 billion (€23.03 million).

Specifically, supermarket sales grew 1.6%, totaling CHF11 billion.

Over the course of the year, Coop opened 34 new stores, bringing the total count up to 2,162.

However, the number of employees fell over the full year, down 0.4% to 74,955. Not all business sectors were successful: while supermarkets achieved 1.6% higher net sales, Coop City stores fell by (-4%) and Coop Bau+Hobby (-2.5%).