Jumbo scored as Top Corporate Name in Greece for 2011-2012 by the institution of Corporate Superbrands Greece at a ceremony held on April 2nd. The Superbrand status was granted after the assessment of 2.000 corporate brands from a council.
The 25% of those was qualified and evaluated in the final phase from both the committee and surveys in the public and business representatives, based on the following criteria:
a) public recognition and good reputation,
b) long-term consistency and reliability
c) social responsibility
This important distinction comes to reward the company in a difficult time of the retail sector in Greece where Jumbo group continues its dynamic expansion.
Keeping the pace
During the first nine months of the current financial year 2011/2012 (July 2011 – March 2012) the Group opened 4 new stores. Specifically, Jumbo opened 3 stores in Greece and 1 in Bulgaria. Consumers continue to prefer the products offered by Jumbo stores and as a result Group’s sales for the nine months of the current financial year 2011/2012 reached € 380,31m from € 372,71m at the respective period last year. During the current challenging environment the turnover has increased by 2.04% y-o-y.
It should be noted that the sales of the Greek Orthodox Easter for the current financial year are expected to be split between the third and the fourth quarter as the Easter is celebrated one week earlier while last year’s sales of Easter period had effected positively only the fourth quarter.
The company estimates that there will be a correction on the sales’ growth pace during the fourth quarter as at the fourth quarter of the previous year included the largest part of the Easter period’s sales. According to the latest available figures, the Group's management revises its original estimates for the current financial year sales and profitability. The rate of sales growth is estimated to range between 0% and 1%. Regarding the after tax profits it is expected to reach € 95m implying an equal increase between 0% and 1%. That estimate is significantly improved over the initial one which corresponded to a decrease of approximately € 12m at the bottom line on the last year’s profits.
Today, the Group operates a network of 56 stores of which 47 are in Greece, 3 in Cyprus and 6 in Bulgaria and proceeds to the completion and the operation of two more stores. In particular, one new store in Russell, Bulgaria, and one more in Attica, Greece until the end of the financial year (June 30th, 2012).