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