Read news from:
Austria
SHARE
COPY LINK

BUSINESS

Danish supermarket chains to get shared names in rebranding

Danish supermarkets Kvickly, SuperBrugsen and Irma will operate under a shared name after parent company Coop decided to merge the three brands together.

Published: 31 January 2023 17:26 CET
Danish supermarket chains to get shared names in rebranding
A SuperBrugsen store in Copenhagen. Parent company Coop is to rebrand its supermarkets into streamlined groups. Photo: Mads Claus Rasmussen/Ritzau Scanpix

Coop said in a statement on Tuesday that the largest of its Kvickly, SuperBrugsen and Irma stores will all be renamed “Coop”.

Remaining, smaller stores will, along with existing Dagli’ Brugsen stores, all be called “Brugsen” under the rebranding.

“We are in the midst of a period we have never experienced before, either in the sector or for Coop,” CEO Kræn Østergård Nielsen said in the statement.

“After delivering a record result in 2020 and record turnover in 2021, we have seen and extreme change in customers’ purchases in the last year, whereby they have moved their spending towards discount and generally buy cheaper and fewer items,” he said.

The Coop supermarkets will be Denmark’s biggest chain, according to the company’s statement. The new structure means Coops current eight brands as of 2022 — Kvickly, SuperBrugsen, Dagli´Brugsen, Fakta, 365discount, Irma, Coop.dk Shopping and Coop.dk MAD – will be reduced to three: Coop, 365discount and Brugsen.

The new stores are scheduled to open by late summer.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

BUSINESS

Maersk profits plummet as Yemeni attacks close off Red Sea route

Danish shipping giant Maersk posted a huge drop in net profit for the first quarter on Thursday as Yemeni rebel attacks are forcing it to avoid the vital Red Sea route.

Published: 2 May 2024 10:06 CEST
Maersk profits plummet as Yemeni attacks close off Red Sea route

Maersk reported a net profit of $177 million in the first three months of the year, a 13-fold drop from the same period last year. Turnover fell 13 percent to $12.4 billion, slightly lower than forecast by analysts surveyed by financial data firm FactSet.

The company, however, raised its outlook for the full year, citing higher demand and increased rates and costs due to the supply chain disruptions in the Red Sea.

It now expects an underlying core profit ranging between $4 billion and $6 billion, up from $1 billion-$6 billion previously.

“We had a positive start to the year with a first quarter developing precisely as we expected,” Maersk chief executive Vincent Clerc said in a statement.

“Demand is trending towards the higher end of our market growth guidance and conditions in the Red Sea remain entrenched,” he said.

“This not only supported a recovery in the first quarter compared to the previous quarter, but also provide an improved outlook for the coming quarters, as we now expect these conditions to stay with us for most of the year.”

Iran-backed Huthi rebels, who control the Yemeni capital Sanaa and much of the country’s Red Sea coast, have launched dozens of attacks on ships since November, claiming solidarity with Palestinians caught up in the Israel-Hamas war.

The United States in December announced a maritime security initiative to protect Red Sea shipping from the attacks, which have forced commercial vessels to divert from the route that normally carries 12 percent of global trade.

SHOW COMMENTS