Netherlands: Coop, Jan Linders and Sligro release results

Date : 14 January 2021

Harriet Cohen

Senior Retail Analyst

As Coop, Jan Linders and Sligro Food Group announce 2020 full year results, we round-up the news from the retailers, while also looking at Jumbo’s outlook for 2021.

Coop outperforms the market, at a total level and online

Coop reported its turnover grew 16% in 2020, although in a 53-week year, seeing it add more than €200m in new sales and taking its total to €1.7 bn. With the market’s growth estimated at 9% for 2020, it means Coop gained market share during 2020.

The company said its sales growth was driven by the restrictions placed on shoppers as part of social distancing measures due to COVID-19. Its 314 stores, which are close to shoppers, benefited from their locations, while average shopper spend rose during the year. Coop also said it outperformed the market in the online channel. It said the online channel grew by 50%, but that it had enjoyed growth 2.5 times faster than this. The strong performance was aided by a tripling in its shopper basis, which was supported by the addition of a new ecommerce fulfilment centre in Almere.

Jan Linders sees turnover rise 15% in 2020

Jan Linders reported turnover growth of 15% in 2020, to more than €524m, although it was boosted by the additional week in the year versus 2019. On a comparative 52-week basis the retailer said its turnover had risen by 12.5%. As with Coop, the pace of growth means Jan Linders gained market share, with its results ahead of the market’s. During 2020 Jan Linders opened one new store, taking its total to 62, and updated 39 of its store estate to its latest look and feel. In 2021 the retailer said it would continue to invest in its stores, roll out self-scan technology to further locations and look to benefit from the implementation of a new ERP system, which it employed in 2020.

Sligro’s turnover falls 18.7% in 2020

Sligro, which incorporates foodservice businesses in the Netherlands and Belgium, reported full year sales fell 18.7% to €1.946 bn, versus €2.395 in 2019. The company said sales fell by 30.4% in Q4 alone.

Jumbo expecting flat organic growth in 2021

Meanwhile, following on from its FY results Jumbo has said that after the COVID-19-driven growth seen in 2020, 2021 is likely to see organic growth of ‘around zero [or] maybe slightly below’. It noted that after growth of 50% in 2020, it was expecting its online store’s pace of sales growth to fall back to about 30% in the year.