Jumbo Group, the largest retail company of toys, baby products, stationary products and other relevant products in Greece, in order to inform its investors as well as its shareholders, announces on a regular basis the developments regarding Groups turnover and strategy.
May has confirmed once more that Greek consumers choose the Jumbo stores. The Group feels justified for its basic strategic thesis that in times of crisis, leading companies should invest and should not be afraid of the downside of an economic cycle in order to come out stronger when the economy recovers.
Despite the exceptionally difficult, for all Greek, economic situation due to the increase of the taxation and the VAT and the repeated strikes, Jumbo Group sales were practically flat for the eleven months of the current financial year July 2010-June 2011 compared to the respected period last year. This development implies a positive trend on the sales of May.
Maintaining this trend during the last month of the current financial year could entail a marginal positive growth on the annual sales.
Jumbo Group continues the implementation of its investment plan with the addition of a new store in Bulgaria. Specifically in the last days of May the Group has completed and operated the new hyperstore in Varna, Bulgaria of total surface of 12.000sqm which is expected to contribute mostly to the sales performance of the next financial year July 2011- June 2012.
Furthermore, in the coming months it is expected to operate a new owned shop in Burgas, Bulgaria total surface 18.000sq.m. Until December 2011 the management is expected to add three new stores in the Greek network. Specifically one rented store in Elefsina of total surface 12.000sq.m, one rented store in Gialou (Spata) of total surface 9.000sq.m and one owned store in Giannitsa of total surface 9.000sq.m. Also during the second half of the next financial year 2011/2012 is planned the operation of one more rented store in Stara Zagora, Bulgaria of total surface 8.500sq.m.
Today, the Group operates 52 stores of which 44 are located in Greece, 3 in Cyprus and 5 in Bulgaria.