During one of the most difficult Christmas Season for the Greek retail market of the last decade, the consumers chose - for one more time- the excellent combination of low prices and high quality of products and services. At Christmas season, the consumers in Greece, Cyprus and Bulgaria voted with their money and their visits the stores of JUMBO.
According to the last available official data of the National Statistic Service, the turnover in the Greek retail sales has declined and the situation does not appear to change during Christmas Season. On the contrary, Jumbo’s turnover growth was positive while customer visits were increased by 5% y-o-y.
Jumbo group, the largest retail company of toys, baby products, stationary products and other relevant products in Greece, announces that sales of the first half of the current financial year (July 2009- June 2010) were increased by approximately 5.8% y-o-y. It should be noted that this has the first Christmas Season that the group’s product mix did not included game machines (consoles) as the management had decided to exclude this type of products from the product mix. Game machines counted the 11% of December’s sales.
The sales in Greece remain satisfactory despite the fact that there were no additions at the company’s network. Cyprus demonstrated an excelled performance as sales continue to have double digit growth. Regarding Bulgaria, the new store at Plovdiv that opened in November contributed to the sales double digit growth that the country demonstrated at the first half of the current financial year (July 2009-June 2010).
The Group, despite the challenging macroeconomic environment in Greece, continues its efforts in order to come out stronger from the crisis. In this it is expected to contribute the new stores that are expected to open during the next financial year (July 2010 - June 2011). Specifically during the financial year July 2010-June 2011, it is expected the opening of two hyper stores in Bulgaria, one in Cyprus and two in Greece.