In Greece, Cyprus, Bulgaria and now in Romania as well, Christmas remained connected with purchases from JUMBO. Neither the economic crisis, nor the new taxes, storms nor cold succeeded to intercept the waves of consumers who continue to trust the quality of JUMBO service.
The positive trend of the first quarter continued and during the second quarter of the current fiscal year. As a result sales between July and December 2013 reached EUR 316,74 million compared to EUR 295,39 million at the respective period of the previous financial year implying an increase of 7,23% y-o-y versus expectations for a 4% to 6% increase.
During the second quarter, sales in Greece remained in positive territory, while sales increase in Cyprus was impressive after the opening of the new store in Paphos. Bulgaria has continued to grow at double-digit rate, while the performance of the first 2 stores of the Group in Romania was better than expected.
Until December 2013, the Group had a network of 66 stores 52 out of which are located in Greece, 4 in Cyprus, 8 in Bulgaria, 2 in Romania and the online store e-Jumbo.
During the second half of the current financial year it is expected to open one more owned store in the northern Greece (9.000sqm). Gradually, with two stores during the current financial year, the radical renovation of the old stores of the Group is about to begin.