Saigon Co.Op Food Company Limited (Vietnam)

The subject is a chain of Co.op Food Stores - a unit of SAIGON UNION OF TRADING CO-OPERATIVES - Top 500 leading retailers in Asia - Pacific. Currently, the Co.op Food chain has more than 500 stores covering all provinces and cities.Its parent company is a famous name in Vietnam, which engages in performing wholesale trades and retail via supermarket chains. Its business segments include retail sales (Co-opmart, Co.opXtra, Co.opXtraPlus, SC VivoCity & Sense City Shopping Mall, HTV Co-op, Co.op Food, Finelife, Co.opSmile, Cheers, Co.op, Ben Thanh Store), investment (Saigon Co-op Investment Development), import/export (Saigon Co-op Distribution), manufacture (Nam Duong).The outbreak of the COVID 19 pandemic has affected every aspect of everyday life. Since the outbreak of the Covid-19 pandemic, the unit's retail system has subsidized many items for consumers and even compensated loss for many expenses. At that time, people mainly buy fresh food (more than 75%) while this is the industry with the lowest profit rate, and the store system has to make up for the cost of sourcing goods: transport, quarantine, loss, etc. Along with the commodity factor, pandemic costs arise such as the cost of rapid and intensive testing for employees, drivers, and policies for employees. During the pandemic, delivery fees increased and a series of supermarkets Co.opmart, Co.opXtra, Co.op Food had to close when cases of infection appeared,... making revenue unstable and revenue sources decreased.