Coop Switzerland posts sales increase of 7.3% for 2022

Growth was driven by performances in retail and wholesale, including its international Transgourmet business

Coop Switzerland has reported total sales of CHF 34.2bn for the 2022 financial year, an increase of CHF 2.3bn or 7.3% on the previous year. 

It says the growth was driven by strong performances in its retail arm, where net sales rose by 1.6%, and its wholesale/production business, which grew net sales by 14.6%. Online business sales reached around CHF 5bn.

Net retail sales were CHF 19.9bn, which means growth of 1.6%, with supermarkets including reporting net sales of CHF 11.6bn – an increase of 8.8% compared to the co-op’s reference year 2019 before the pandemic, but below figures in the pandemic years, where trade was boosted by lockdown measures. 

The retailer adds that last year it invested in expanding its Prix-Garantie range and in price reductions, especially for fruit and vegetables. 

In the wholesale/production business area, net sales rose by 14.6% to CHF 15.7bn. Its international wholesale business Transgourmet generated net sales of CHF 11.1bn, beating the previous year’s figures in all of its national companies. 

“Transgourmet is thus further consolidating its strong position in European cash & carry and wholesale supplies,” said Coop Switzerland. “This is due on the one hand to the recovery in wholesale after the lockdowns caused by the pandemic and on the other hand to the acquisition of Transgourmet Ibérica.”

Coop’s online business achieved sales of around CHF 5bn and rose by CHF 1.2 bn. The online supermarket, with over 18,000 products, grew by 8.4%. In wholesale, online sales increased by 55.1%.

The sale of sustainable products grew 6.7% – up by CHF 391m to CHF 6.2bn. With around 20,900 products, Coop says it has the widest range of sustainable products in Swiss retail.