Swiss retailer Migros reported sales of CHF 32.5bn for 2024, a 1.6% year-on-year increase.
The retailer says this is partly thanks to strong online growth of 10.1% to CHF 4.5bn. Within this, the Migros Online Supermarket increased its sales to CHF 365 million (+6.0%).
Retail sales in Switzerland increased by 1.4% to CHF 24.4bn, with in-store sales rising 0.3% to CHF 12.7bn. Another area of growth was individual store formats such as Migros Partner or Voi, which grew by a total of 4.1%.
“This development reassures us that we have taken the right path with our clear focus on our supermarkets,” said Mario Irminger, president of the Migros Cooperative Federation.
Meanwhile, the non-food division was affected by a shift from in-store to online shopping, prompting Migros to reduce its specialist stores portfolio. The co-op has found buyers for Melectronics, SportX and Bike World, and is now looking for a suitable owner for its Micasa and Do it + Garden ventures.
Migros has also sold its Hotelplan Group and Mibelle Group businesses, in an attempt to focus on its core business. In October 2024, the retailer launched a nationwide low-price initiative, reducing the prices of over 1,000 popular everyday products, a scheme in which it is investing 500 million francs per year. In addition to this, Migros is expanding its fresh and local produce range for its own brand products; opening of 140 new branches; and modernising 350 existing ones in the next few years.
Other divisions experiencing growth were health services with sales up 2.7% to CHF 1.5bn, and travel, with sales at Hotelplan Group up by 3% to CHF 1.8bn.
Meanwhile, the petrol service station division suffered due to declining volumes and lower oil prices, with sales down by 9.7% to CHF 1.4bn.
Migros, which celebrates its centenary this year, was set up in 1925 by Swiss entrepreneur Gottlieb Duttweiler. The business became a consumer co-op in 1941.
Today, it is owned by around two million Swiss residents. The co-op is the country’s biggest food retailer, with over 600 large stores nationwide. Members continue to have a say in their co-op, including by voting to ban the sale of cigarettes and alcohol.
A centenary promotion is running from 14 January to 10 February, where customers will receive one sticker for every CHF 20 they spend. Those with a full collector’s card with 20 stickers will be able to exchange them for surprise boxes containing Migros products. Some of these boxes will also include an anniversary gold coin made of five grams of pure gold. The promotion will be valid while stocks last.
