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Globus shuts Geneva branch as sales slump

National News // May 16, 2018

A combination of online shopping, the strong franc and the trend of cross-border shopping is hitting retail sales in Geneva.

Balexert Globus shuts Geneva branch as sales slump

The Globus branch in the Balexert shopping centre will be closed – costing 60 jobs.

Globus is owned by the retail giant Migros – as is the shopping centre itself.

An independent survey by GfK shows sales at Balexert, which is Switzerland’s biggest shopping centre, are down 3.1%.

The proximity of the centre to the French border is thought to be a major factor as shoppers seek bargains in the Eurozone.

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