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Migros sales pick up but fail to match industry average

Migros sales pick up after years of stagnation

(Keystone)

Switzerland's largest retail chain, Migros, recorded sales growth of Sfr13.345 billion ($8.24 billion) last year, some 3.1 per cent up on the 1999 figure. The Migros group as a whole recorded turnover of more than SFr19 billion.

After several years of stagnant sales, Migros management said the growth performance was satisfactory, although the figure is below the average of 4.5 per cent for the industry.

Migros' main competitor, Coop, last week announced sales of SFr12.1 billion for 2000, up 4.2 per cent over the previous year.

"In its 75th anniversary year, Migros proved that it is continuing to grow by building on its own strengths," said Peter Everts, head of the Migros federation of cooperatives.

In a statement from its headquarters in Zurich, Migros said that some one and a half million customers visited its stores every day, up by 0.7 per cent over 1999. Total retail sales surface exceeds one million square metres.

Turnover from sales via the Internet went up by 50 per cent last year to reach SFr6 million, while significant increases were also recorded in Migros convenience stores at railway stations and Migrol service stations.

The Migros group includes the Globus and Ex Libris stores, as well as the Hotelplan travel business.

swissinfo with agencies



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