Greek consumers chose the stability of JUMBO once again

The sales of Jumbo Group were at the end of the fiscal year (July 2018 - June 2019), once again, above the forecasts and estimates that the management had informed the company’s shareholders - partners.
During the second-half of the financial year (from January to June 2019), which was economically and politically complicated for Greece, Jumbo Group’s employees and executives managed to improve their efficiency and surpass the pace of the previous semester (7,6%).
The Group's sales increased in total by + 7.8% y-o-y to EUR 812,2 million for the financial year 2018/2019 versus EUR 753,3 million of the previous financial year.
  • In Greece, consumers voted for the combination of quality and prices that Jumbo offers, despite the large fluctuations and the general anemic results in domestic retail market.
  • Sales in Greece (net sales of the parent company excluding intragroup sales) grew approximately by +3,5% y-o-y.
  • A new hyper store opened in Katerini (approximately 13.000 sqm).
Romania recorded an impressive sales growth of more than + 30% y-o-y. Three new owned hyper stores started operating during the financial year 2018/2019 in the dynamic Romanian market:
  • The first one in the area of Bucharest (approximately 13.600 sq. m.) since the end of September 2018.
  • The second one in Bacau (approximately 12.900 sq. m) since November 2018.
  • The third one in Braila (approximately 12.000 sq. m) that opened in March 2019.
Sales in Bulgaria increased by approximately + 9% without any new store addition. In the Cypriot market consisting of five stable stores, sales increased by approximately + 2%.

Consequently, JUMBO operates today 79 stores, 52 of which are located in Greece, 5 in Cyprus, 9 in Bulgaria and 13 in Romania. The Group also operates its online store 

The Group has also a presence through partnerships in 5 countries with 23 stores that operate under JUMBO brand name (Albania, Kosovo, Serbia, North Macedonia and Bosnia). The opening of the first store of a partner is expected in Montenegro during the next financial year 2019/202.

New network expansion

Another owned hyper-store is expected to open in Brasov, Romania in November 2019. The company continues to expand in Romania aiming to open three new hyper-stores in total during 2019/2020. Also,one more owned hyper store is expected to open in Cyprus.

Network expansion combined with the stabilization in a positive pace of the Greek market are expected to contribute to the mid-single digit growth rate of sales (5%) budgeted for the new financial year 2019/2020.