We succeeded to beat our targets in a particularly difficult year once again. The new financial year begin with capital controls…

 

On June 30th an extremely difficult, complex and particularly problematic period ended for the Greek economy and retailing. At the same day, the fiscal year ended for the JUMBO Group.
 
Sales exceeded the amount of EUR 582.55 million comparing to EUR 541.84 million of the previous 12-month period, during the period that started from July 1st 2014 until June 30th 2015. The increase of 7,51% y-o-y in turnover is above the initial target of 4% -6% for the fiscal year of 2014/2015.
 
Despite the unclear environment in the Greek market, the Jumbo stores during the 12 months recorded an increase of their turnover sample of the solid relation of trust with the consumers. The stores in Cyprus and Bulgaria recorded double digit increase in sales. The contribution of the Jumbo stores in Romania was significant as the same stores recorded double digit growth from the previous year.
 
During the financial year July 2014- June 2015, the Group operated 7 new hyper stores, 2 out of which are located in Greece, 1 in Cyprus and 4 in Romania. During the same period a rented store in Aspropyrgos (Greece) closed.
 
  • Today Jumbo network counts 72 stores 53 out of which are located in Greece, 5 in Cyprus, 8 in Bulgaria and 6 in Romania. TheGroupalsohastheonlinestoree-Jumbo.
 
Jumbo continues the expansion of its store network. Until December 2015, Jumbo is expected to open the seventh store in Romania (12,000 sqm).
 
The new financial year that started on July 1st 2015 has been marked by the imposition of capital controls in Greece which will obviously affect negatively the operation and the company’s figures in Greece and indirectly the other countries due to the difficulties in the smooth operation of the supply chain.
 
 
The JUMBO Group using the experience gained -in the recent respective crisis in Cyprus in 2013- had been prepared in time in order to have sufficient inventory to cope with the initial shock. However, any estimation for the new fiscal year should be postponed until after the conclusion of the negotiations and the signature of the new loan agreement by the Greek government and the desirable return of the country to normal conditions.