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Coop Announces 5 Percent Rebate

Coop members will receive a 5 percent rebate on purchases made in the past school year, the Coop announced yesterday.

The size of the rebate has grown each year since 1995, reflecting increases in both membership and sales, according to Coop President Jeremiah P. Murphy Jr. '73.

Sometime in October, members will receive a check returning 5 percent of the value of their purchases made at any of the Coop's six locations as well as through the mail order and online catalogs during fiscal year 2000, which ended June 30.

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The Coop posted sales of $40 million, a 3.3 percent increase over last year. Coop membership increased 22.6 percent, the largest chunk of which came from students.

Sales from the Coop's online catalog, including Harvard and MIT gifts and clothing, experienced explosive growth, increasing at 40 percent over the last year. Such sales now account for over 50 percent of non-store sales.

Coop officials said they anticipate online sales to grow as the store is able to offer a widening assortment of books and non-insignia merchandise via the Internet. Efforts at co-branding with labels like Brooks Brothers and Tiffany's have also added to online growth.

Book sales, especially at the Harvard Square location, continue to increase at a double-digit pace, despite the growth of the online book industry.

"Booksellers had a tough year last year because of online book sales, but we continued to do well not only in textbooks but in the sale of regular books as well," Murphy said. "There has been an impact from online sales, but it hasn't been dramatic enough to really affect our sales."

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