Migros Zurich: Thriving Amid Challenges Impressive Sales Surge

Migros Zurich: A Year of Robust Sales Performance

In a year marked by economic challenges, Migros Cooperative Zurich (GMZ) has emerged stronger, posting a significant sales increase. The supermarkets and restaurants under GMZ have shown remarkable growth, contrasting the downturn experienced by its specialty stores in 2023.

Supermarkets and Organic Stores: The Growth Leaders

GMZ’s turnover soared by 3.6 percent, reaching 2.64 billion Swiss francs. This surge is attributed to the inflationary pressures from the 2022 energy crisis, which impacted energy, raw materials, and food prices. Supermarkets were the standout performers, with a 4.9% increase in sales, totaling 2.16 billion Swiss francs. Notably, the Alnatura organic stores experienced a 7.6 percent rise in sales, benefiting from the addition of three new stores.

Migros Zurich Gastro Recovery

The gastronomy sector of GMZ witnessed the most substantial growth. Recovering from the impacts of the coronavirus years, this sector’s turnover jumped by 12.1 percent to 138.7 million francs.

Challenges in the Specialty Store Division

However, it wasn’t all positive news. The non-food stores of GMZ, including brands like Do it + Garden and OBI, faced a 10.6 percent decline in sales. This downturn is linked to structural changes in the non-food market. In response, GMZ has integrated the M-Electronics range into supermarkets and closed the OBI DIY store in Affoltern am Albis.

Migros Group’s Overall Sales Increase

Beyond the Cooperative, GMZ’s other ventures like Movemi fitness group and the Ospena gastronomy group also contributed to its success. The German food retailer Tegut, part of GMZ, grew by 2.4 percent, reaching sales of 1.28 billion euros. The entire GMZ Group’s sales amounted to CHF 4.15 billion, a 2.9% increase, maintaining its position as the top Cooperative within the Migros Group.

Zurich Migros Looking Ahead: Expanding Local Supply

In the coming year, GMZ plans to enhance its local supply network. This includes launching two VOI small store concept branches and opening two more Alnatura stores in 2024.

Key Takeaways

• Last year the Migros President stepped down.
• GMZ’s turnover increased by 3.6% to 2.64 billion Swiss francs in 2023.
• Alnatura organic stores grew by 7.6%, with three new stores contributing to this rise.
• The gastronomy sector of GMZ saw a 12.1% increase in turnover, indicating a strong post-pandemic recovery.

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