The Swiss Times - Swiss News in English

Migros boss: Examine all options for specialist stores

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.

©Keystone/SDA

Most Read

Sunday, February 11 – Round Up

11 February 2024
ZHdK's turmoil, dormant pension assets, and innovative solutions to the housing crisis. Stay informed with Sunday's top stories.

ETH President Highlights Financial Strain Despite Federal Savings Plan

11 February 2024
ETH President Mesot contradicts the Federal Council's plan to cut CHF 50 million from ETH Zurich, emphasizing the importance of reserves.

Swiss Production Sees Q4 Downturn Despite Sales Uptick

16 February 2024
Swiss production
Swiss production falls in Q4, challenging industry but with a rise in sales, showcasing sector resilience amidst economic complexities.

Temenos: Accounting Irregularities & Failed Products

16 February 2024
Temenos' journey through innovation, financial challenges, and accusations.

Stay in Touch!

Noteworthy

Zurich Commercial Court Summarizes Investor Lawsuits Regarding UBS/CS Merger
18 February 2024
Swiss security
Swiss Security Chief: “We Have to be Prepared for War”
18 February 2024