Migros posts a sales record
Switzerland's largest retail group, Migros, reported on Tuesday that sales had exceeded the SFr20 billion ($12.09 billion) mark in 2001 for the first time in its history.
Migros, a federation of cooperatives, said in a statement from its Zurich headquarters that although it businesses had felt the effects of the economic slowdown, its group cooperatives had performed well.
Migros said its 10 regional cooperatives had achieved sales revenues of SFr13.985 billion last year, some 2.9 per cent higher than in 2000.
Growth was particularly marked in the fourth quarter, with a sales increase of 4 per cent compared with the same period in 2000, the group said.
The statement added that the result showed that Migros had consolidated its position as the market leader.
Detailed results on the performance in 2001 will be announced at a new conference on April 30.
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