Migros Sees Boost From Organic Product Sales Despite 'Challenging' Year
Switzerland's Migros Group recorded more than CHF 1 billion (€940 million) worth of organic product sales for the first time in 2019, despite the overall business seeing profits decline in what it described as a 'challenging' financial year.
The retailer said that sales of eco-friendly products, as well as those with a social added-value, totalled CHF 3,148 billion (+ 0.6%), as the group continues to invest more in sustainable and ethical products.
Consolidated sales across the Migros Group totalled CHF 28.6 billion (€27 billion) last year, with group profits dropping 29.6% to CHF 335 million, due to one-off losses resulting from the divestment of the Gries Deco Group and m-way.
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