Migros Boosts Full-Year 2012 Profits
Published on Apr 9 2013 1:37 PM in Retail
Migros Group delivered a 9.8 per cent increase in group profit for full-year 2012, totalling CHF 724.2 million (€593 million), with retail sales up 1.3 per cent to CHF 21.3 billion (€17 billion) . EBIT edged up 0.7 per cent to CHF 985.6 million (€807 million).
The Switzerland-based retailer attributed its performance to a stable gross margin in its co-operative retail division, ongoing efficiency programs, and a stronger wholesale business.
The group’s co-operatives saw sales drop 0.9 per cent to CHF14.52 billion, impacted by shopping tourism in neighbouring countries. Its domestic co-operatives also saw a 0.9 per cent decline, dropping to CHF14.32 billion.
Discount chain Denner delivered a sales increase of 1.7 per cent and the Migrol forecourt stores showed growth of 6.5 per cent. LeShop.ch, Migros’ online grocery offering, marked flat growth, with sales of CHF149.5 million.
The retailer marked a 14.3 per cent sales boost for its own label products, amounting to CHF 2,614 million. In particular, its Bio-Label showed 9 per cent growth, with sales of CHF 474 million, TerraSuisse, its label to promote natural, animal-friendly Swiss agriculture, grew 2.2 per cent to CHF 659 million, while its ‘From the region. For the region’ brand was up 1.2 per cent to CHF 791 million.
Migros Group opened 8 new stores in Switzerland during 2012,and increased its workforce by 1,068 people to 87,461 employees. (9 April)
© 2013 - ESM: European Supermarket Magazine by Sadhbh Connor