In 2023, the sales revenue of the COOP Economic Group increased by more than 10%

By: Trademagazin Date: 2024. 05. 21. 12:01

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Thanks to an increase of more than 10 percent, COOP Gazdasági Group reached HUF 830 billion in sales last year, it was announced at the general meeting of CO-OP Hungary Zrt. on Thursday. In addition to the results achieved in a constantly changing economic and regulatory environment, in a challenging market situation, the store chain with the largest coverage in the country continued its business and service development investments last year.

Last year, as in 2022, the COOP Gazdasági Group increased its turnover by more than 10 percent, thus achieving sales revenue of HUF 830 billion in 2023. And within the company group, last year’s turnover of the Coop store chain amounted to HUF 521 billion, thanks to an 11 percent increase.

László Pekó, the chairman of the board of CO-OP Hungary Zrt., said at the general assembly: last year, the actors of the retail sector, including Coop, had to cope with an economic environment that was difficult to plan for.

“Trade is not in an easy situation at the moment. The increased turnover due to inflation at the beginning of 2023 will be very difficult to maintain. If there is a decline in traffic, then either the margin must be increased or costs must be reduced. We see that the current period is not exactly favorable for increasing the margin, and costs are increasing”

added László Pekó.