Against the estimates for significant decline of the turnover in the Greek retail market, Jumbo Group, the largest retail company of toys, baby products, stationary products and other relevant products in Greece, announces that sales during the ten months of the current financial year (July 2010 - June 2011) were almost at last year’s level.
During the first half of the current financial year sales declined by 0,65% y-o-y. The productivity of the Group’s stores during the Easter period had a positive effect in the group sales΄ that recorded a decline of only 0,29% y-o-y for the ten months of the current financial year. Jumbo’s new stores contributed to the Group’s performance but the performance of the existing network was improved too compared to December 2010.
The high-selling period of Easter has a positive effect on the last quarter of the current financial year while last year sales’ were divided between the third and the fourth quarter as Greek Orthodox Easter was celebrated significantly earlier. Therefore the nine months results are not directly comparable to last year’s nine months results.
According to the ten months sales’ performance the companys management estimates that the guidance of the current year sale’s change between minus one percent (-1%) and zero percent (0%) was successful.
Today, the Group operates 51 stores of which 44 are located in Greece, 3 in Cyprus and 4 in Bulgaria. Jumbo Group continues its investment program, focusing on the opening of 6 new stores in the first half of the next financial year July 2011-June 2012.