Migros has reported that its revenue grew by 0.1 per cent to CHF 27.4 billion (approximately € 25.17 billion) in 2015, while group profit at the end of the year stood at CHF 791 million (€726 million), 4.2 per cent less than the previous year.
The results come after the Swiss retailer faced a difficult year, in which it saw an increase in ‘retail tourism’ as more shoppers looked for groceries in neighbouring countries to take advantage of the Swiss Franc/euro exchange rate.
In Switzerland, its supermarkets achieved a turnover of CHF 11.670 billion. Given the average inflation of 1.3 per cent, this means the brand maintained its sales in absolute terms.
Chief Executive of the Fédération des coopératives Migros, Herbert Bolliger commented, "Despite the difficult market environment, we have increased the attendance rate our stores and significantly increased our market share."
Meanwhile, Migros France reported an increase in sales of 12.8 per cent to around €120 million (a decrease -1.1 per cent in Swiss Francs), while Tegut Group in Germany increased turnover by 1.1 per cent to €980 million (-11.2 per cent in Swiss Francs). After adjusting for currency and inflation, this brings growth to 0.7 per cent.
2015 also saw the launch of initiatives such as PickMUp!, the brand’s click and collect service, as well as the introduction of smartphone payments in its stores.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.
