The positive October reduced the negative effect of the first lockdown
The consumers not only in Greece but also in all countries where JUMBO operates, constantly reward the quality of products and service in the stores of the JUMBO Group.
In October 2020, with the Group's stores remaining open in Greece, Cyprus, Bulgaria and Romania, sales recorded a significant increase of approximately +12,7%, compared to October 2019.
The improvement of October’s turnover further corrected the overall disappointing performance of 2020 and as a result, the Group’s sales for the 10-month period reduced by -7% compared to the corresponding period last year.
It is reminded that during the first nine months of 2020, the Group's sales were reduced by -9,3% compared to the corresponding period last year.
It is obvious that the latest developments with regards the pandemic, in the Greek market and not only (extended suspension of employment contracts, working remotely, mandatory suspension of professional activities and local lockdowns), make it difficult to form reliable forecasts for the overall course of the year, taking into account that as of today, part of the country that represents c. 20% of the turnover in Greece is under total lockdown for 14 days.
For the retail sector, traditionally, the months of November and December are the most important months of the year as they include Christmas Season trade.
The course of the pandemic in the countries in which the Group operates as well as the measures taken by the governments will have a significant impact on the performance of the entire financial year January-December 2020.
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 first wave of the pandemic in Europe.
• 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 (-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 in sales respectively.
• August sales demonstrated 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.
• The significant increase of sales by + 12,7% in October 2020, led the reduction of the 10 months sales at -7% y-o-y.
In October 2020, with the Group's stores remaining open in Greece, Cyprus, Bulgaria and Romania, sales recorded a significant increase of approximately +12,7%, compared to October 2019.
The improvement of October’s turnover further corrected the overall disappointing performance of 2020 and as a result, the Group’s sales for the 10-month period reduced by -7% compared to the corresponding period last year.
It is reminded that during the first nine months of 2020, the Group's sales were reduced by -9,3% compared to the corresponding period last year.
It is obvious that the latest developments with regards the pandemic, in the Greek market and not only (extended suspension of employment contracts, working remotely, mandatory suspension of professional activities and local lockdowns), make it difficult to form reliable forecasts for the overall course of the year, taking into account that as of today, part of the country that represents c. 20% of the turnover in Greece is under total lockdown for 14 days.
For the retail sector, traditionally, the months of November and December are the most important months of the year as they include Christmas Season trade.
The course of the pandemic in the countries in which the Group operates as well as the measures taken by the governments will have a significant impact on the performance of the entire financial year January-December 2020.
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 first wave of the pandemic in Europe.
• 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 (-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 in sales respectively.
• August sales demonstrated 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.
• The significant increase of sales by + 12,7% in October 2020, led the reduction of the 10 months sales at -7% y-o-y.