rgest employer and supermarket chain, Migros, announced that net sales for 2013 rose by 6.9% thanks to organic growth and its 2012 acquisition of German retailer Tegut.The significant net sales increase saw revenue rise to 26.7 billion Swiss francs (CHF), with retail revenue up 7.2% to CHF22.9 billion.
In a statement released this week, the group said results were boosted by its acquisition of Germany’s Tegut, but noted that underlying sales were up 1.6%.
Sales in its home market grew by 1.3% to CHF21 billion , while international growth was up an underlying 12.5%. Denner, Migros' domestic discount banner, had a sales increase of 1.5% to CHF2.88 billion.
The company's manufacturing arm, Migros Industrie, saw revenue rise 6.3% to CHF5.76 billion, which it said was helped by the acquisitions of Swiss wholesale chain CAA Angehrn and dairy firm Bersenn.
"Behind these numbers is [an] excellent overall performance. Despite intense competition and falling prices, we experienced healthy growth momentum in all our areas of activity," Migros chairman and CEO Herbert Bolliger said.
