Migros' FY Sales For 2013 Up 7%

Switzerland's largest employer and supermarket chain, Migros, announced that net sales for 2013 rose…

Switzerland's largest employer and supermarket chain, Migros, announced that net sales for 2013 rose by 6.9% thanks to organic growth and its 2012 acquisition of German retailer Tegut.

The significant net sales increase saw revenue rise to 26.7 billion Swiss francs (CHF), with retail revenue up 7.2% to CHF22.9 billion.

In a statement released this week, the group said results were boosted by its acquisition of Germany’s Tegut, but noted that underlying sales were up 1.6%.

Sales in its home market grew by 1.3% to CHF21 billion , while international growth was up an underlying 12.5%. Denner, Migros' domestic discount banner, had a sales increase of 1.5% to CHF2.88 billion.

The company's manufacturing arm, Migros Industrie, saw revenue rise 6.3% to CHF5.76 billion, which it said was helped by the acquisitions of Swiss wholesale chain CAA Angehrn and dairy firm Bersenn.

"Behind these numbers is [an] excellent overall performance. Despite intense competition and falling prices, we experienced healthy growth momentum in all our areas of activity," Migros chairman and CEO Herbert Bolliger said.