JUMBO forefront on increasing productivity

The Jumbo Group informs its shareholders - partners for the sales figures of the first half of the current financial year, July – December 2015.

The last 6 months were the most challenging in the last 20 years for the Greek family and the economy. The 5.000 employees of Jumbo Group achieved the best possible results in order for each household to enjoy in low-cost the products needed.

The dynamics of sales during the first five months of the current fiscal year, as it was announced by the management, continued also in December. As a result during the six month period:

  • The stores in Greece recorded an increase of sales by 3% y-o-y, exceeding even the most optimistic estimate for flat sales during the current financial year.
  • The increase of sales in Romania was impressive as sales doubled.
  • In Bulgaria and Cyprus sales were in line with the initial estimates.

In general, during the first six months of the current financial year, meaning from July 2015 to December 2015, Group’s sales were increased by +8,97% y-o-y reaching EUR 371,75 million from EUR 341,13 million of the respective period of last year.

This rate of increase exceeds the target that initially has been set for the year that is the increase of sales by 0%-4% y-o-y. As a result, the management revises upwards the target for annual sales increase between 6% and 8% for the current financial year that ends in June 2016.

Until the end of December JUMBO had a network of 73 stores in four countries, 53 out of which are located in Greece, 5 in Cyprus, 8 in Bulgaria and 7 in Romania, while the company also operates the online store e-jumbo.

The restructuring of the network based mainly on increasing productivity is the main target of the JUMBO investment program.

This plan also includes the closure of two small, first generation stores, which in the future will be replaced by new hyper stores in areas that the Group is not present yet.