Cooperative retailer Migros Group has booked an increase in full-year sales as it “extended” its “price leadership” in the Swiss market.

The company revealed that full-year sales rose to CHR21.35bn (US$22.81bn), an increase of 0.7%. Stripping out the impact of inflation, sales rose 2.3% in the 12 month period.

Migros said growth was driven by private label sales. The firm’s organic range saw revenue growth of 9.1%, products with the FSC label grew 19.2% and products with the MSC label from sustainable fisheries rose 12.2%.

Migros emphasised it was able to expand sales while also investing in price. The company said it reduced prices by a total of 1.4%.