Migros boss: Examine all options for specialist stores
Published: Friday, Feb 2nd 2024, 11:30
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Migros wants to decide on the future of its specialist stores such as Obi and Do it + Garden by mid-2024. "All possible options will be examined", said Migros CEO Mario Irminger at a media conference on Friday. The search for new owners is also explicitly not ruled out.
As the retailer announced on Friday morning, this decision has already been made for the SportX and Melectronics specialty stores: They are definitely to be sold.
The markets have come under pressure due to changes in consumer behavior, explained Irminger. The coronavirus pandemic has further increased the pressure on the brick-and-mortar business. The losses could not have been offset by the online business. It was therefore decided to look for new owners for the divisions.
Irminger emphasized that nothing should change for employees, customers or partners as part of the sales process.
The Migros boss also announced that adjustments would be made to the management of the specialist stores. Migros is aiming for more direct management for these in future, for example under the umbrella of a single cooperative. As an example, he cited the German subsidiary Tegut, which is managed directly by the Migros Cooperative Zurich.
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