Migros' Consolidated Sales Reach TRY 241.3 Billion in First Half

Migros increased consolidated sales by 4.5% in real terms in the first half of 2026 to TRY 241.3 billion. The company made TRY 6.3 billion in investments in the first half of the year, while online channels' share of total sales reached 23.1%. Migros' net cash position stood at TRY 31.8 billion.

Migros announced its financial and operational results for the first half of 2026. The company continued sales growth during a period marked by inflationary conditions and changing consumer behavior, while maintaining operational strength through technology-enabled productivity investments and disciplined cost management.

Migros' consolidated sales increased by 4.5% in real terms to TRY 241.3 billion in the first six months of the year. In the same period, the company generated TRY 5.8 billion in free cash flow, while raising its net cash position to TRY 31.8 billion.

115 New Stores Opened
Migros opened 115 new stores in various formats in the first half of 2026, bringing the total number of stores to 3,830. In addition to new store investments, projects aimed at renovating existing stores and improving efficiency in in-store operations held an important place in the company's investment agenda.

Migros' total investment in the first half of the year amounted to TRY 6.3 billion.
The company's share in the total fast-moving consumer goods (FMCG) market was 9.7%, while its share in the modern FMCG market was 15.3%. The earlier start of the summer season compared to the previous year negatively impacted customer traffic in seasonal stores, while online channels' share of total sales rose to 23.1%.

"We Maintain Our Profitable Growth Focus"
Migros Group Chief Executive Officer Özgür Tort stated in his assessment of the results for the first half of the year that the company entered the second half with a profitable growth focus supported by the increasing contribution of its ecosystem.

Tort said, "In the current inflationary conditions, we supported our customers through intensive promotional and discount campaigns, and brought our suppliers on board with us. Despite the negative impact of our campaigns on second quarter profitability, we completed the first half of the year with net profit of TRY 1.078 billion."

Noting that they continued their growth strategy in online channels alongside physical stores, Tort stated that investments in developing complementary business areas such as personal care, wholesale and food delivery were continuing.

Highlighting the importance of cost management and technology-enabled productivity increases in the core business, Tort said, "The fact that our core business maintains profitability despite the transfer of distribution center employees to permanent status and a collective labor agreement that resulted in an increase over inflation demonstrates the importance of our technology-enabled productivity investments."

Noting that they observed an improvement in customer traffic at seasonal stores in July, Tort said this development strengthened their confidence in achieving year-end expectations. Tort stated that they would continue to focus on targets while maintaining current momentum in the second half of the year.