Swiss retailer Migros reports stagnant 2010 sales

Switzerland’s largest retail group Migros has reported flat sales and profits in their 2010 end of year results. Annual profits did rise, but only by 0.9% to 581.6 million Swiss Francs. Migros cut product prices by 2.1% last year but  the overall share of the retail market fell slightly to 20.1% from 20.4% the previous year. Despite this, Migros CEO Herbert Bolliger described 2010 as ‘a very good year’.