Franc Strength Leads To Falling　Sales And Profits For Retailers

摘要

The Swiss retail sector is currently proving very challenging forndomestic operators due to increased prevalence of cross bordernshopping among domestic consumers. This has been driven by thenstrength of the Swiss franc, as well as the relatively weak economicnenvironment and has had a negative impact on the results of thencountry's leading retailers. The country's leading retailer Migrosnreported a 22% fall in net profit for 2011, while sales at its retailnbusiness were down by 3.3%. Meanwhile, for the same period thencountry's second largest retailer Coop reported an 8% drop in netnprofits, with sales at its supermarket unit down by 2.6%.