• Net profit up 9.8%
  • EBIT climbs 0.7%
  • Net sales grows 0.6%
Migros said it recorded a "solid" full-year

Migros said it recorded a "solid" full-year

Swiss retailer Migros Group said it achieved "solid" results in 2012 with increases in profit and sales.

Earnings were up 9.8% to CHF724.2m (US$775.1m), the company reported today (9 April), despite "massive" price cuts and a decline in sales from its travel business.

EBIT climbed 0.7% to CHF985.6m. Migros pointed to a stable gross margin from its core retail business, ongoing efficiency programmes and a stronger wholesale unit.

Group sales increased by 0.6% to CHF24.99bn. Retail sales were up 1.3% to CHF21.33bn.