Despite the heavy taxation and the bad weather of the last 10 days of December Jumbo Group, the largest retail company of toys, baby products, stationary products and other relevant products in Greece, preserved the lead of the consumers’ preference.
Group sales during the first six months of the current financial year, from July until December 2012, reached € 295,40 million from € 293,06 million implying an increase of +0,80% y-o-y. This performance is in line with the annual target of sales growth between 0% and 2%. The Group’s sales performance during the first half of the financial year is attributed to the significant increase of sales of the stores in Bulgaria and of the stores in countries that the company holds franchise agreements (Albania and FYROM) in combination with the slight decline in sales of the stores located in Cyprus and Greece due to the worsening economic crisis.
Jumbo Group continues to demonstrate that the only solution to the economic crisis is to invest and to increase the productivity in combination to lower prices that correspond to the declining income.
From July until December, the first six months of the current financial year, Jumbo Group invested in four new stores:
• at Nea Philadelphia (Attica) of total surface of 10ths sqm
• at Palaio Faliro (Attica) of total surface 7,5ths sqm
• at Thermis (Thessaloniki) of total surface 9ths. sq.m..
• at Sofia (Bulgaria) of total surface 12ths sq.m.
Today, Jumbo Group operates a network of 62 stores of which 51 are located in Greece, 3 in Cyprus and 8 in Bulgaria.
Until the end of June 2013 it is estimated that two more store will open in Greece while the Group continues the preparation for the opening of Jumbo stores in Romania. During the next financial year (July 2013 - June 2014) it is expected to open at least two stores in Romania, the new store of the Group in Paphos (Cyprus) and two or three store in Greece.
The Group’s turnover of the first half of each financial year is traditionally indicative of the 12-month performance. As a result the Group's management estimates that the Group's sales for the current fiscal year (July 2012-June 2013) will grow between 0% and 1% while the management maintains its estimate for the net profit at € 70 million.