Migros sales up by 1.2 percent in 2004

Swiss food retailer Migros has announced a consolidated turnover of 20.3 billion Swiss francs (EUR 13.14 billion) in 2004, an increase of 1.8 percent on 2003. The 10 Migros cooperatives recorded net sales of CHF14.63 billion (versus 14.3 billion in 2003), which represents an increase of 2.3 percent. Sales of Migros' discount brand M-Budget increased by 34 percent during the year, and 50 new products in this brand are expected to be available on the shelves over the next few weeks.