Swiss retailer Migros said it could expand its market position at home and abroad, despite being in a “difficult” economic environment.
The firm said today (4 February) that sales for 2009 reached CHF5.1bn (US$4.79bn), an increase of 1.5% on the previous year.
Go deeper with GlobalData
Sales to Swiss third-party customers increased by 2.5% as a result of further expansion of the firm’s catering business.
In 2009, Migros said it invested around CHF150m in expanding and securing its production location in Switzerland.
IN 2009, the strongest growth in the business was in the company’s meat, fish, and poultry division with a 6.4% increase in sales.
The expansion of Migros’s catering business, the acquisition of production cooperatives, and various new products were the main driver of growth.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe firm’s dairy and cheese division, however, saw a “significant” decline, while sales in Migros’s chocolate and coffee business dropped of 2.2%.
Migros said it will continue to pursue its growth strategy based on a “strong industry location Switzerland”.
It added that the firm’s international business is “continually evolving” and aims to reach CHF700m in turnover by 2012.
“The focus is to strengthen the marketing force in the main markets and the targeted expansion of product ranges,” the company said.
