Migros has announced that preliminary net sales jumped to €19.4bn in 2008, up 13.3 per cent on a year-on-year basis, with the retail segment of the group reporting a 17.1 per cent increase in sales to €16.2bn.
The Switzerland-based company recorded double digit growth for its organic product range and discount M-Budget ranges, with 'exceptionally strong' growth at Migros Cooperatives, Denner and Migrol, according to Planet Retail.
Domestic retail sales totalled €16.08bn during the year, an increase of 17.3 per cent, with retail sales abroad in France and Germany dropping by 6.7 per cent to €141.5m as a result of the closure of an outlet in Bad Säckingen, the declining French business and changing exchange rates.
The group now boasts a store portfolio of 601 sites, compared with 589 at the end of 2007.
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