Switzerland: Do it + Garden slightly down, Obi considerably

The Swiss Migros Group's DIY retail store chain Do it + Garden turned over 0.4 per cent less than last year. The Obi stores that Migros operates on a franchise basis, recorded a real 3.5 per cent revenue decline. In total, the specialist retail division of Migros, which includes the sales lines Micasa, SportXX and Melectronics, made CHF 1.622 bn, which corresponds to 3.0 per cent less than the previous year. After adjustments for the deflation rate of 6.0 per cent, it made a real increase of 3.0 per cent.
Last year, the Swiss retail trade struggled with increasing consumer tourism, the strong Franc and the ensuing foreign exchange rate losses.