Price cuts cost Migros 0.9% turnover decrease

Switzerland
is still, by far, the most important market for Migros, accounting for €
17 billion or 98% of worldwide retail turnover. The subsidiaries in the
two main neighbouring countries, Migros France and Migros Deutschland,
totalled a turnover of € 170 million.

Bio-success, online profit

The
internet channel LeShop.ch saw its turnover decrease by 1.3% to € 123
million, but finished the year without making a loss – for the first
time ever. Together with the online activities of its hotel and office
services, the group’s online activities were good for CHF 664 million (€
550 million).

Migros
highlighted the success of its ‘eco-friendly’ department (+7.0%), but
complained about the 10% lowering in fruit and vegetable prices. The
group was especially pleased with “the growing numbers of online orders
through smartphone and tablet”, but refused to publish both profit
figures and forecasts for 2012. However, given the sharp turn for the
worse in the second semester, analysts fear for a difficult year for
Migros – and the Swiss retail sector in general.