The Migros Group has published the annual figures for 2021. While further profit slumps were recorded, especially in the travel business, sales from online trading rose by more than 15 percent.
Despite the pandemic, Migros was able to increase its sales in 2021.
According to the company, business areas such as travel, gastronomy as well as fitness and leisure activities have suffered heavy losses.
There was higher demand in retail.
That's what it's all about
The retail giant can look back on a successful year 2021.
On average, prices fell by 1.7 percent compared to the previous year.
The Migros Group was able to further expand its leading position in online trading.
Two developments shaped the 2021 financial year of the Migros Group, as the company writes in a statement. As in the previous year, the travel and leisure business as well as gastronomy suffered from restrictions caused by the pandemic. On the other hand, Migros has made unexpectedly strong gains in online retail. In this division, sales rose by almost 16 percent compared to the previous year to over three billion francs. Almost two thirds of this sum was generated by the Digitec Galaxus online shops.
President thanks employees
«The Migros Group is in a strong position. We succeeded in surpassing the high level of the previous year in the retail trade. This success is due to the great commitment of our employees in Switzerland and abroad,” says Fabrice Zumbrunnen, President of the General Management of the Federation of Migros Cooperatives.
15 billion sales
The ten regional Migros cooperatives in Switzerland generated sales of almost 15 billion francs, which was around 1.2 percent below the previous year's result. Migros explains this decline with a lack of income in gastronomy and fitness, which can only open under certain circumstances due to the corona pandemic. Customers were also able to benefit: compared to the previous year, Migros reduced prices by an average of 1.7 percent.
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