Clear cut and soaring Migros posts record sales in 2024
Despite all the turbulence during the Group's restructuring, Migros continued to grow last year. Sales rose by 1.6 percent to 32.5 billion Swiss francs. That is a new record.
17.01.2025, 08:35
17.01.2025, 09:24
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- Migros achieved record sales of 32.5 billion francs in 2024.
- Online retail made a significant contribution to the good result.
- Group restructuring with the sale of subsidiaries such as SportX, Melectronics and Hotelplan serves to focus on the supermarket business, which remained stable in 2024 with a slight increase of 0.3 %.
Migros made headlines in 2024 primarily with the sale of subsidiaries such as SportX, Melectronics, Hotelplan and others. At the same time, the retail giant achieved higher sales than ever before.
The boost came from strong online trading, which increased by 10.1 percent to 4.5 billion Swiss francs, as Switzerland's largest retailer announced in a press release on Friday. The lion's share of this came from online retailer Digitec Galaxus, whose sales shot up by a good 17 percent.
Migros was also able to increase retail sales in Switzerland by 1.4 percent to 24.4 billion Swiss francs. The Swiss retail business was characterized by two trends, it said. Business in the supermarkets remained stable with a slight increase in sales of 0.3 percent to 12.7 billion Swiss francs. Smaller stores such as Migros-Partner and Voi grew more strongly (+4.1 percent).
Sale of specialist stores and Hotelplan
"This development confirms that we are on the right track with our clear focus on our supermarkets," explained Migros CEO Mario Irminger. Almost a year ago, Migros announced a radical reorganization of the group with the exit from struggling specialist stores and the sale of the tour operator Hotelplan Group and the industrial company Mibelle. Migros thus intends to concentrate on its core business.
In the "Non Food" segment, the shift from stores to online retail is continuing, according to the statement. The sale of the specialist stores "will result in the elimination of both sales shares and sources of loss in 2025". Melectronics, SportX and Bike World have already been sold. The search for a suitable owner is still underway for Micasa and Do it + Garden.
Migros no longer disclosed the turnover of the specialist stores in 2024 in the communiqué. A year earlier, sales at all Migros specialist stores had fallen by a whopping 7.7 percent to just CHF 1.5 billion.
According to rumors, the Hotelplan Group is to be sold to its German competitor Dertour, with the earnings pearl Interhome to be sold to other companies. The deal has been delayed because, according to Migros boss Irminger, the British authorities still have to give their approval.
