Coop (Switzerland) has announced preliminary sales for its 2011 financial year. Net sales rose 38.9% to CHF27.8bn (£18.90bn) thanks to the full acquisition in January 2011 of TransGourmet, the former 50:50 wholesale and food-service joint venture between Coop (Switzerland) and German Rewe Group. Sales at the retail division fell 0.9% to CHF18.4bn (£12.51bn).
However, Coop (Switzerland) bosses were satisfied as the company faced a difficult economic environment. Coop’s 816 hypermarkets, superstores, supermarkets and neighbourhood stores suffered a 2.6% drop in sales to CHF11bn (£7.48bn) due to price decreases on 4,500 items.