COOP Jednota sees decline in 2009 sales but keeps leading position

2010-01-29



The cumulated sales revenues of the retail cooperative COOP Jednota Slovensko topped €1.48bn in 2009, which was a year-on-year decline of 2.5%. The company’s retail segment generated a 3.9% y-o-y decrease to €1.2bn, while the remainder of the revenues coming from the logistics centre business saw a 3.7% increase.
The decline in revenues is explained by the company as a direct effect of the economic crisis in Slovakia, which thinned the consumers’ pockets and pushed up the total unemployment in the country. Shopping tourism to neighbouring countries in Q1 2009 further contributed to the drop in sales.
But despite the decline in revenues, the COOP group managed to defend last year its leading position on the Slovak retail market, including in the foodstuffs segment.
COOP Jednota Slovensko runs some 2,400 stores in the country.