Coop Sweden Reports SEK 2.7 billion Operating Loss in 2024
Coop Sverige AB and its affiliated consumer cooperatives have reported a combined operating loss of SEK 2.7 billion for the fiscal year 2024, marking one of the most challenging periods in the organization’s history, writes Fri Köpenskap, a leading professional journal.
The loss includes SEK 1.65 billion from the 26 Konsumentföreningar and SEK 1.09 billion from Coop Sverige AB.
The downturn is attributed to technical and logistical issues stemming from the rollout of Coop’s new central warehouse in Eskilstuna, as well as outdated IT systems and leadership transitions. CEO Marie Nygren stepped down earlier this year amid mounting pressure.
“This result reflects deep structural challenges that must be addressed urgently,” says a Coop spokesperson. “We are committed to restoring operational stability and customer trust.”
Over the past decade, Coop has steadily lost market share, falling from 22% in 2014 to 14.2% in 2024. In contrast, Axfood has grown from 16.5% to 24%, overtaking Coop as Sweden’s second-largest grocery retailer and earning money!
Inefficiencies
Coop is undertaking a strategic review to address its operational inefficiencies and regain competitiveness in the Swedish grocery market. Several experts in Sweden now warn that the situation is alarming after years of economic setbacks, and that unless this situation is turned around, one might even see a Coop that file for bankruptcy.
The cooperative model and member-based structure may delay formal bankruptcy proceedings, but without major restructuring or external support, Coop could face insolvency in the near future.
It is urgent that Coop Sween as soon as possible:
- Modernize its logistics and IT infrastructure.
- Rebuild customer trust through consistent service.
- Reevaluate its cooperative business model in a competitive retail landscape.
Market shares over time
|
Year |
Coop Market Share (%) |
Axfood Market Share (%) |
|---|---|---|
|
2014 |
22.0 |
16.5 |
|
2016 |
20.5 |
17.8 |
|
2018 |
19.0 |
19.5 |
|
2020 |
17.5 |
21.0 |
|
2022 |
16.0 |
22.5 |
|
2024 |
14.2 |
24.0 |
Sources: Coop, Fri Köpenskap, Handel, Dagligvarunytt.