Swiss retailer Migros puts on sale DIY and pet supplies business
The biggest supermarket chain in the country has started discussions to divest the 45 locations of Do it + Garden.
Swiss supermarket chain Migros is looking to sell Do it + Garden, its specialty store chain carrying pet supplies alongside other DIY and garden products.
GlobalPETS learned that the Zurich-based retailer hopes to find a new owner by the end of 2024.
“The divestment processes will not change anything for customers and business partners of Do it + Garden. All business continues to run reliably as before,” says a company statement.
The company, which has a network of 735 locations nationwide, also announced its intentions to sell its business furniture store chain Micasa and bike specialist retailer Bike World.
Fewer sales due to e-commerce
Migros posted CHF 17.3 billion ($19.1B/€17.7B) in sales in 2023, a 3% increase from the previous year. However, the sales in their specialist stores – including Do it + Garden – fell by 7.7%.
The company admits that it has experienced a “significant shift” in the market for several years due to the popularization of online retail in the non-food section. “This has put constant pressure on in-store retailing,” it admits.
The company hinted toward realigning specialized stores to meet “changing customer needs.”
Sales in specialist stores accounted for CHF 1.61 billion ($1.8B/€1.66B) in 2022, an overall decline of 6.7%. In 2021, it hit CHF 1.73 billion ($1.93B/€1.78B), a 0.9% increase against 2020.
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