Migros has reported group turnover growth of +0.7% for 2012 to CHF25.03bn; retail turnover was up 2.3%, to CHF21.35bn, after taking into account the effects of price adjustments.
Demonstrating price leadership
Following the pattern of recent years, Migros
continued to invest heavily in price cuts in 2012. The group’s ten co-operatives implemented cuts equivalent to some CHF204m over the year, covering 2,000 products. Non-food formats M-electronics and Micasa benefited from the most substantial reductions, of -6.4% and -4.9% respectively.
Organic products helping drive growth
Migros continues to develop its ethical credentials, particularly under the initiative Génération M. Organic products were one of the main growth drivers of sales, with the Bio Migros range up 9.1%, and sustainable FSC and MSC-labelled ranges showing double digit growth.
Convenience is focus for expansion
Developing its convenience network was a priority during 2012. Migros opened 20 new Migrolino stores during the year, and eight M neighbourhood convenience outlets. The franchise agreement with Socar Energy Switzerland, entered into in June, should help Migros drive convenience harder.
New market for Migros Ostschweiz
In related news, this Migros co-operative announced that it would be opening a store in Liechtenstein in 2013. Find out more here.
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