Coop generates 50 percent more sales with online store

Coop CEO Hansueli Loosli is expecting strong growth in online grocery stores in 2006. Sales of CHF 45 million are expected in 2006, which corresponds to growth of 50 percent. Loosli told the Basler Zeitung that he expects to be in the black in 2008. Competitor Le Shop/Migros was in the black for the first time in the first half of 2006, slipped back into the red due to investments in the new warehouse and aims to return to profit in 2008. Sales at Le Shop/Migros amounted to CHF 47.6 million in the first nine months of 2006 - an increase of 39.3 percent.