At 10,9% the impact of CoViD-19 on sales during the first 8 months of 2020
The reduced tourist traffic of August 2020 and the steadily increased confidence in JUMBO products and services shown by the consumers, led the total turnover of the Group to a small decrease (-2%) compared to August 2019.
Despite the general decline in the retail sector, caused by the spread of the pandemic, JUMBO Group sales during the first eight months of 2020 were decreased by approximately -10,9% compared to the same period last year.
2020 started very promising.
• Sales in January increased by approximately + 13% y-o-y
• In February 2020 the performance was even better and 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.
As it was expected, the increase in demand for products through the online store, e-JUMBO, was explosive.
• 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 which we consider to be an excellent result taking into account the decline of tourism and essentially improved the overall picture of the eight months performance to -10,9% y-o-y compared to the seven months, which was represented a decline by -12,5%.
Jumbo Group will publish the financial results of the first half of the year 2020, on Tuesday 15.09.2020 on the ATHEX website (www.athexgroup.gr) and on the Company’s website www.e-jumbo.gr (http://corporate.e-jumbo.gr/), after the close of the ATHEX trading session.
Despite the general decline in the retail sector, caused by the spread of the pandemic, JUMBO Group sales during the first eight months of 2020 were decreased by approximately -10,9% compared to the same period last year.
2020 started very promising.
• Sales in January increased by approximately + 13% y-o-y
• In February 2020 the performance was even better and 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.
As it was expected, the increase in demand for products through the online store, e-JUMBO, was explosive.
• 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 which we consider to be an excellent result taking into account the decline of tourism and essentially improved the overall picture of the eight months performance to -10,9% y-o-y compared to the seven months, which was represented a decline by -12,5%.
Jumbo Group will publish the financial results of the first half of the year 2020, on Tuesday 15.09.2020 on the ATHEX website (www.athexgroup.gr) and on the Company’s website www.e-jumbo.gr (http://corporate.e-jumbo.gr/), after the close of the ATHEX trading session.