Shopping Migros CEO: 50-franc VAT exemption limit would be "ideal"
Migros Group CEO Mario Irminger would have liked to see an even greater reduction in the VAT exemption limit. "A reduction to 50 francs would have been ideal," he said in an interview with "CH Media".
06.01.2025, 06:00
SDA
The new regulation, which has been in force since January 1, 2025, reduces the exemption limit for purchases abroad from CHF 300 to CHF 150. The adjustment is a step in the right direction, explained Irminger with a view to shopping tourism.
The Migros CEO was satisfied with the business performance in 2024. According to his estimates, sales will be slightly higher than the previous year's CHF 32 billion. The operating result should also be stable or better than in 2023, when Migros reported a low profit of CHF 175 million compared to previous years due to high extraordinary write-downs. Irminger emphasized that such burdens are not to be expected this time.
Migros continues to enjoy strong ties with the Swiss population, said Irminger. "Practically every household has a Migros connection." This goes far beyond the supermarket: households with a migration background in particular often first got to know Migros through their language courses.
Despite the shift towards online solutions and apps, the Migros Club School's language courses will not fall victim to the current austerity measures, as Irminger went on to say: "The language schools are not self-supporting, of course. But this educational offering is one of the most important pillars of our cultural commitment."
140 new branches in five years
Despite cost-cutting measures, Migros is planning major investments. Over the next five years, 350 existing supermarkets are to be modernized, as the company announced in October. In addition, 140 new supermarkets are to be opened, increasing the number of stores from 790 to 930. Migros plans to invest 2 billion Swiss francs for these new openings alone.
The project will not be easy, Irminger admitted in an interview with "CH Media". Nevertheless, he sees good chances thanks to the ten regional cooperatives and their familiarity with regional building regulations. "30 stores per year is realistic," concluded the Migros CEO.
