The strong Swiss franc and the buying tourism leave clear traces at the Swiss retailer as well. The nett profit decreased by more than 20% last year to 659 million franc. With the exception of the Migros Bank profits decreased in all separate branches of the company.
Migros-director Herbert Bolliger called the result 'sound''. Market share of the biggest Swiss retailer, however, decreased by 0.2%. Nevertheless the quantities sold and the client frequency have been increased.
Bolliger referred to the 'big challenges' of the last year (a strong Swiss franc, increase of buying tourism) accepted by the concern through increases in efficiency, innovations and decreases in prices. As a result of cutbacks 400 fulltime jobs were lost. The cost savings could, however, not compensate Migros for the 600 million franc lost because of decreases in price.
The turnover of the Migros group decreased by 0,9% to 24,9 billion Swiss franc in 2011.
The turnover of the Migros group decreased by 0,9% to 24,9 billion Swiss franc in 2011.