Coop reports growing profit in Denmark

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Growth in earnings improvements in all chains and more benefits for members, has characterized Coop in 2014 – who improves profit significantly from 2013.

”All our chains have achieved significant progress, and we can see that all five are on the right path,” says CEO Peter Høgsted.

Coop Denmark, including the independent cooperatives, achieved in 2014 a turnover of 44.7 billion DKK (Excl VAT) compared to 44.4 billion in 2013.
The total EBIT for Coop including operative societies was 523 million kr. Against 235 million last year.
Coop operates totally 1,217 stores within Kvickly, SuperBrugsen, Dagli´Brugsen, Fakta and Irma and the webshops, coop.dk and irma.dk –
Coop Denmark A / S – excl. cooperative societies – achieved EBIT of 329 million DKK compared to 85 million last year.
The regional cooperatives achieved an EBIT of 194 million DKK (150 million).
“With a new strategic direction, Together for better food, with massive growth in the number of members and with large investments in digitization and modernization of stores, it is satisfying to see that we are on the right track with a doubling of our performance,” says Chairman Lasse Bolander.
The number of members has increased by 90,000, and there are now 1.5 million members. They have been refunded with 201 million DKK In points, which can be used to pay in store. This is an increase of 31 percent from 153 million DKK last year.
“All our chains have achieved significant progress, and we can see that all five are on the right path. Kvickly has achieved its best result ever, not least due to the Coop-owned department stores for the first time overall profit. SuperBrugsen has continued its upscale development with a result that is almost twice as good as the year before. Dagli’Brugsen have a market in decline supplied progress. Irma has again raised its earnings. And Fakta which in 2013 attracted a record deficit, improved the basic operation, but still have deficits,” says CEO Peter Høgsted.