Migros with more sales in 2023
Published: Tuesday, Jan 16th 2024, 07:50
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The Migros Group grew again in 2023. Sales rose by 5.9% to 31.9 billion Swiss francs, after the "orange giant" broke the 30 billion mark for the first time in the previous year.
Online and healthcare services grew in particular, as Migros announced in a press release on Tuesday. But the travel business also flourished: tour operator Hotelplan increased its turnover by almost 21 percent to 1.7 billion Swiss francs.
Migros increased its retail sales in Switzerland by 4.1 percent to 24.1 billion Swiss francs. In particular, the stationary supermarket business (+3.6%) and Migros Gastronomy (+10.2%) reported strong growth.
Migros has thus strengthened its position as the number 1 in Swiss retail, the company concludes in the press release. This also applies to the online business.
This is because the boom in online retailing has not stopped at Migros either. Total online sales across all areas of the Group grew by 10.3 percent to CHF 4.1 billion. The online department store Digitec Galaxus grew by 11.6 percent to 2.5 billion.
The Health division became a significant growth driver, not least with the acquisition of the online pharmacy Zur Rose. It experienced massive growth of 74 percent to CHF 1.3 billion.
Meanwhile, Migros' bricks-and-mortar specialist stores had a tough time of it, with sales falling by 7.7 percent to 1.5 billion. Bike World, Do it+Garden, Melectronics, SportX, Micasa and OBI were confronted with a "challenging" environment in view of the success of online retail, according to Migros.
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