Nothing seems capable to reverse the long relationship of trust that has been created between the consumers and the Jumbo Group, the largest retail company of toys, baby, stationary and other relevant products in Greece. Neither the post-election uncertainty, nor the violent collapse of the financial data of an entire fifteen year period managed to derail the Jumbo Group from its steady course.
During the 11months of the current financial year (July 2011-June 2012) Group’s sales remained within the annual target (0% -1%). Even during May, a difficult pre-election month, that all Greeks were facing a financial crunch, Jumbo’s sales continue to grow at a positive pace and as a result Group’s sales for the 11 month period of the current financial year grew by +0,74%.
In the light of these surprising results, the Company's management estimates that for the current financial year the Group will achieve its targets for growth both in sales and profit after tax of 0% to 1% despite the deteriorating economic environment.
Always takes a lot of effort to achieve positive results. Employees, executives and the management remained committed to the targets despite the relaxing song of the Sirens that is sounded the last years in Greece. The unique credit crunch and the change in consumer behaviour did not prevent the Jumbo Group to invest in the future. In May the investment program of the Group was completed as planned with the launch of the new owned hyperstore in the city of Rousse, in Bulgaria of total surface of 12.000 sq.m.
Since July 2011 the Group has opened 6 new hyperstores in total, of which 4 are located in Greece and 2 in Bulgaria.
Today, the Group operates a network of 58 stores of which 48 are in Greece, 3 in Cyprus and 7 in Bulgaria.
Furthermore, in the coming months it is expected to operate a new leased store in Nea Filadelfeia (Athens) of total surface 8.000sq.m.
Until December 2012 the management is expected to add two new stores in its network: one leased store in Palaio Faliro (Athens) of total surface 7.500sq.m and one owned store in Sofia (Bulgaria) of total surface 12.000sq.m. During the second half of the next financial year 2012/2013 is planned the operation of two more stores in Greece and one more in Cyprus.