Coop's Losses Double: A Billion-Crown Setback in Retail

After two years of heavy losses, Coop's total loss more than doubled in 2024 to 2.7 billion SEK. The company, once the largest in the Nordics, now has only 26 consumer associations left, reports Dagens Nyheter.

Coop's market shares continue to shrink, with no assets left to sell. The situation is worst for Coop Syd, which includes all Coop stores in Skåne and Blekinge.

"Coop is in a crisis. The development has been clearly worse than the index, and a total operating loss of 2.7 billion SEK for the associations underscores how bad it is," says Thomas Ohlén, senior analyst at Dagligvarunytt, to Dagens Nyheter.

A year ago, the company's 26 consumer associations had losses of around 700 million SEK in both 2022 and 2023. A year later, the total operating loss has doubled to 1.65 billion SEK for 2024, reports the trade magazine Dagligvarunytt.

"Aware of Our Strained Situation"

The main organization KF, which consists of all 26 consumer associations, also reported a loss of 1.125 billion SEK. This was due to operational difficulties at a new automated warehouse in Eskilstuna.

The total loss for 2024 amounted to 2.7 billion SEK for KF and the associations. According to Kerstin Wallentin, chairperson of KF, sales are picking up in several associations.

"We are aware of our strained situation" and that "sales have really picked up in many associations, and we are starting to recover what we lost in sales last year," writes Kerstin Wallentin to DN.