Swiss retail giant Migros announced last year that it was looking for new owners for its subsidiaries Hotelplan, cosmetics and hygiene brand Mibelle, Melectronics and SportX. The new strategy involves major job cuts but also investments in core business areas.
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Listening: Swiss retail giant Migros posts record 2024 sales
Despite an ongoing restructuring programme, Swiss retail giant Migros continued to grow last year by 1.6%, posting record sales of CHF32.5 billion ($35.7 billion).
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Migros wächst im Jahr 2024 trotz Turbulenzen
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The growth was helped by strong online sales, which rose by 10.1% last year to CHF4.5 billion, Migros announced in a press release on Friday. The lion’s share came from its online subsidiary Digitec Galaxus, where sales grew by 17%.
Migros also increased its retail sales in Switzerland by 1.4% to CHF24.4 billion. The Swiss retail business was characterised by two trends, it said. Business in its supermarkets remained stable with a slight increase in sales of 0.3% to CHF12.7 billion. Smaller stores such as Migros-Partner and Voi grew more strongly (+4.1%).
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 reorganisation of the group and took the decision to sell struggling specialist stores, the tour operator Hotelplan Group and the industrial company Mibelle. Migros said it wanted to concentrate on its core business.
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Swiss retailer Migros starts restructuring with 150 job losses
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Swiss supermarket chain, Migros, is shedding jobs and subsidiaries.
In the non-food segment, the shift from stores to online retail continues, Migros said. The sale of the specialist stores “will eliminate both sales shares and sources of loss in the 2025 results”. 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 did not disclose the turnover of its specialist stores in 2024. A year earlier, sales at all Migros specialist stores were down by 7.7% to CHF1.5 billion.
According to rumours, the Hotelplan Group will be sold to its German competitor Dertour, while Interhome will go to other companies. The deal has been delayed because, according to Irminger, because the British authorities still have to give their approval.
Translated from German by DeepL/sb
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