Migros announces record sales for 2023
The orange giant is getting bigger and bigger. Last year, Migros was able to expand its sales again.
Migros remains the number one company in Swiss retail.
Photo: Keystone
The Migros group increased again in 2023. Sales rose 5.9 percent to 31.9 billion francs after the orange giant broke the 30 billion mark for the first time the previous year.
The electronic and health services sectors witnessed particular growth, as Migros announced in a statement on Tuesday. But the travel business also boomed: tour operator Hotelplan increased sales by almost 21 percent to 1.7 billion francs.
She added that Migros increased retail sales in Switzerland by 4.1 percent to 24.1 billion francs. In particular, the fixed supermarket business (+3.6%) and Migros gastronomy (+10.2%) rose significantly, according to the information.
In this way, Migros has expanded its position as the number one company in Swiss retail, the company concluded in the statement. This also applies to online businesses.
Because the boom in online trading never ended in Migros either. Total online sales in all areas of the group grew by 10.3 percent to reach 4.1 billion francs. Digitec Galaxus online store rose 11.6 percent to $2.5 billion.
The health business has become an important growth driver, especially with the acquisition of Zur Rose online pharmacy. It witnessed a massive growth of 74 percent to 1.3 billion francs.
Meanwhile, stationery specialist Migros had a hard time chewing, with sales falling 7.7 per cent to 1.5 billion. Bike World, Do it+Garden, M-Electronics, SportX, Micasa and OBI have faced a “challenging” environment due to their success in online retail, according to Migros.
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