At -9,3% y-o-y the turnover during the 9-month period, improved compared to -10,9% y-o-y during the 8 months
Traditionally, September is the "back to school" month, which for the entire JUMBO store network implies an increase in traffic and a significant increase in turnover.
This year, September was different. The market was nervous and uncertain, partly due to the strong second wave of the pandemic but also due to the great turmoil in the education field.
The shift of the school opening date and the local restrictions, did not contribute at all to the smooth operation of the market. On the contrary, caused erratic reactions of consumers resulting in a fluctuation of sales in the various regions.
Summarizing the performance of 2020 up to date:
• Sales in January increased by approximately + 13% y-o-y
• In February sales increased by + 23% y-o-y.
• Group’s sales in March recorded a decrease of approximately -51% y-o-y affected by government decisions taken per country to limit the spread of the pandemic.
• In April, with most of the stores to remain closed and the rest to underperform, the Easter Season was permanently lost. Sales recorded a drop of -86%, always compared to the same month last year.
• In May, there was a gradual restart of the economy. With most stores operating in Greece and the three out of the five stores in Cyprus, in combination with the gradual lifting of the restrictions in Bulgaria and Romania, the Group's sales for this month were driven by double-digit growth (+ 13,6%).
• June and July remained in positive territory recording approximately a +5,8% y-o-y and a +8% y-o-y increase respectively.
• August sales showed a contraction by -2% y-o-y due to the decline of tourism.
• September 2020, closed with an increase in sales for the Jumbo Group by approximately + 1,2%, compared to September 2019.
As a result, sales for the Group during the first 9 months appear reduced by -9,3% compared to the corresponding period last year.
This year, September was different. The market was nervous and uncertain, partly due to the strong second wave of the pandemic but also due to the great turmoil in the education field.
The shift of the school opening date and the local restrictions, did not contribute at all to the smooth operation of the market. On the contrary, caused erratic reactions of consumers resulting in a fluctuation of sales in the various regions.
Summarizing the performance of 2020 up to date:
• Sales in January increased by approximately + 13% y-o-y
• In February sales increased by + 23% y-o-y.
• Group’s sales in March recorded a decrease of approximately -51% y-o-y affected by government decisions taken per country to limit the spread of the pandemic.
• In April, with most of the stores to remain closed and the rest to underperform, the Easter Season was permanently lost. Sales recorded a drop of -86%, always compared to the same month last year.
• In May, there was a gradual restart of the economy. With most stores operating in Greece and the three out of the five stores in Cyprus, in combination with the gradual lifting of the restrictions in Bulgaria and Romania, the Group's sales for this month were driven by double-digit growth (+ 13,6%).
• June and July remained in positive territory recording approximately a +5,8% y-o-y and a +8% y-o-y increase respectively.
• August sales showed a contraction by -2% y-o-y due to the decline of tourism.
• September 2020, closed with an increase in sales for the Jumbo Group by approximately + 1,2%, compared to September 2019.
As a result, sales for the Group during the first 9 months appear reduced by -9,3% compared to the corresponding period last year.