21 June 2018
The Weekly

Globus is confident that it will stabilize sales in 2018 after several years of decline. Following an almost complete restructuring, the Migros subsidiary is currently no longer planning any further branch closures. However, the number of employees is set to fall further in the medium term. In 2017, Globus recorded a decline in sales of 2.5% to 857mn francs (€507mn). If the company is experiencing an increase in foreign tourists of 10% in its branches in Geneva, Lucerne and Zurich, in general, however the company expects the situation to continue to deteriorate. In the first three months of 2018, sales in the clothing and footwear sector fell by 10% year-on-year. In order to counteract the sales erosion, the Globus chain has mainly relied on a restructuring its network by means of a "one brand" strategy. Globus now operates 27 new Globus branches, which resulted from the merger of the Schild and Herrn-Globus branches. In addition, two new branches were opened. Overall, the Globus Group now has 42 stores compared to 13 previously. By 2022, the Group wants to continue to reduce its workforce by 10% (currently of around 3,600 employees). In addition, the department stores wants to increase its online business. Within the next two years, Globus wants to take this channel to 100mn Swiss francs (€87mn). In 2017, the onlines sales represented about 35mn (€30mn) in 2017 and in 2018 it will be over 50mn (€43mn).

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