The COOP Economic Group’s turnover increased by more than 10 percent last year

By: Trademagazin Date: 2023. 05. 22. 12:40

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The COOP Economic Group’s turnover increased by more than 10 percent last year compared to the previous year, reaching HUF 748 billion in sales; within the company group, the turnover of the Coop store chain amounted to HUF 470 billion in 2022, with an increase of about 16 percent, CO-OP Hungary Zrt. told MTI on Monday.

In the announcement, Géza Tóth, CEO of CO-OP Hungary Zrt., explained: among the players in the retail market, the COOP store chain is present in most places in the country, with 2,180 stores in 1,430 settlements.

Concentration continued in the entire market and within the company group, the five largest franchise members of the COOP Economic Group accounted for 52 percent of the group’s total revenue last year, and the 50 largest franchise members accounted for 88 percent.

The general manager emphasized: they have more than 400 stores operating with solar panels, and by the end of the year the number of units equipped with the technology could reach 600, which would represent 23 percent of the entire store network. Customers can pay at 30 self-service cash registers in nine franchise stores.