People go to discount stores because of inflation: Denner raises sales to record levels

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Discounter Denner increased its sales to a new record of 3.9 billion francs last year. This is 4.0 percent more than the previous year.

The Migros subsidiary announced in a statement on Thursday afternoon that the increase was due to the consolidation of its branch network, the expansion of fresh products and the consequences of inflation. High inflation was also reflected in the purchasing behavior of the public. Even more customers arrived at Switzerland’s largest discount store. The number of customers increased by 5.2 percent in 2023.

Both Denner branches, +4.1 percent, and Denner partner companies, +3.7 percent, contributed to the 4.0 percent sales increase. Discountci wrote that last year the branch network increased by 5 and reached 864 locations.

Record levels since the pandemic

In its statement published two weeks ago, parent company Migros stated Denner’s sales as 3.8 billion francs. Denner spokesman Thomas Kaderli, when asked by the AWP news agency, explained that these figures do not include the additional revenue that Denner adds to sales.

The discounter’s sales have increased to these levels since the pandemic. In the last year before Corona, Denner had sales of only 3.3 billion francs.

$4 billion on the horizon

If things continue like this, Denner wants to exceed the sales limit of 4 billion francs. Kaderli said that this goal is realistic.

With the growth, Denner also created 159 new jobs. At year’s end, the discounter had 6,187 employees. (SDA/sfa)

Source :Blick