On Monday morning, Migros announces the changes that will be implemented at Migros supermarkets.
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Media conference over
This concludes the media conference. Further information will follow shortly on blue News.
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9.52 a.m.
Branded items are being removed from the range
In recent years, many branded items have been added to the range, but they are not selling well enough. This is why adjustments are now needed. "Some branded items will be removed from the range," says Irminger.
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9.46 a.m.
Where does the sale of the remaining subsidiaries stand?
Migros also wants to sell its subsidiaries Micasa and Do it + Garden. According to Irminger, the sale is on track and is expected to be completed by the end of the year or in 2025 at the latest.
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09.40 a.m.
These products are being removed from the range
Migros wants to bring new own brands and products to its stores. But space on the shelves is limited. A journalist asks: "Are there any products that will be removed from the range?"
Diethelm says: "No brands that generate good sales are being discontinued. However, Migros also has supplementary markets for brands that do not generate enough sales or do not meet with sufficient interest. These are removed from the range."
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09.29 a.m.
Migros cuts prices on 2200 products
From today, fruit and vegetables have become significantly cheaper. New low price sticker in yellow will show the low prices in future. Migros has reduced the prices of up to 2,200 products to date.
Peter Diethelm explains the price reductions in detail: "By the end of the year, there will be more than twice as many products as there are today," says Diethelm. These are not marginal products, but "everyday products". Cucumbers, apples, pears, carrots and other products will be affected. Bread, meat and fish will follow. "In total, we will reduce over 1000 everyday products to discount level over the next few months."
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09.23 a.m.
Mirgros wants to increase share of own brands
The Migros CEO: "Our own brands are gaining in importance. We have over 200 own brands. We will continue to increase the proportion of own products and make targeted investments in their prices. Overall, the share of own brands will increase to 80 percent."
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9.19 a.m.
No additional job cuts
The cuts of the past few months have been tough, but unavoidable, Irminger continued. "We have worked hard on focusing within Migros", said the Chairman of the Executive Board. Irminger promises that no further job cuts are planned in addition to those already communicated.
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09.15 a.m.
Migros loses significant market share
Mario Irminger, President of the Executive Board, says: "We want to become the pace-setter in the food business again." Profitability in the food business has fallen by half in the last ten years. Migros has also "lost a significant share of the market" over the last ten years.
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09.11 a.m.
Lower prices in the stores
Ursula Nold, President of the Board of Directors, says: "We want to strengthen our position as number one and set the pace. This is in the interests of our customers."
Nold says: "At Migros, people get more for their money." Many people in Switzerland are burdened by the higher costs. As a cooperative, Migros can afford this and wants to offer high-quality products at lower prices.
The Migros Group is in excellent financial health. More modern and fresher than ever, Migros wants to make its contribution to the quality of life of people in Switzerland.
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09.00 a.m.
Migros renews supermarkets and continues to rebuild
The press conference has begun. Migros provides information on various innovations at its supermarkets.
This year, Migros announced that it would be selling various specialist stores. Now the new strategies are being announced.
Migros is going on the offensive. The struggling retailer wants to invest 2.5 billion Swiss francs to open new stores, modernize existing ones and reduce prices.
Despite cost-cutting measures, Migros wants to invest on a grand scale. A total of 350 existing supermarkets are to be modernized over the next five years, as the company announced on Monday.
Migros also plans to open 140 new supermarkets over the next five years. The number of stores is to increase from 790 to 930.
The majority of these will be "small M stores in areas where the population is growing rapidly". Migros is investing two billion francs in these new openings alone.
Aiming for discounter level
Price reductions are also part of the planned measures. Over 1000 everyday products will be reduced "to discount level", according to the statement. According to the press release, these price reductions will take place this year and next. A further 500 million francs in investment costs will be incurred for this.
The Migros management under CEO Mario Irminger also wants to strengthen its own brands. And although Migros currently has its own production company Mibelle in the shop window and is looking for a buyer, it wants to strengthen its own brands in future. "In future, they are to be given greater weight and a more prominent place in the stores again", according to the press release.