The fortress of the JUMBO consumer is strongly defended. With specific results.
The global supply chain has been violently disrupted and the equilibrium has been definitely overturned, causing a severe on going crisis in retail business. Under these conditions, retail sales cannot par the pre-pandemic period nor do they favor ambitious business decisions/developments.
Early in the crisis of absurd price increases in transportation, in raw materials and the high inflation both in Greece and abroad, Jumbo Group started building an effective fortress to defend the consumer.
From the beginning, the Group refused to give in to the temptation of a general and horizontal increase in prices.
All those products that the price-quality correlation were at the expense of the consumer were excluded from the product range of JUMBO stores.
The Fortress of the consumer of Jumbo, delivered specific measurable results.
Jumbo Group's sales in July 2022 recorded an increase of +3%, contrary to the general market outlook.
Overall, in the 7 months of 2022 (January-July 2022), the Group's sales recorded an increase of c. +11% y-o-y.
Sales performance by country:
Greece: In July 2022, the net sales of the parent company - excluding intragroup sales – decreased marginally by c. -0,5% compared to July 2021, due to the fact that the last day of the month this year was a Sunday with the stores closed. On a comparable basis, sales were up by c. 1,5% y-o-y.
Overall, for the seven-month period of 2022, the net sales of the parent company - excluding intragroup sales- increased by c. +17% y-o-y.
Cyprus: Sales in July 2022 increased by c. +21% y-o-y and maintained the strong performance.
Overall sales in Cyprus for the seven-month period of 2022 increased by approximately +24% y-o-y.
Bulgaria: The network's sales increased by c. 4% y-o-y in July 2022. Sales in Bulgaria for the seven-month period of 2022 increased by c. +0,6% y-o-y.
Romania: The network's sales increased by c. +3% y-o-y in July 2022. Sales in Romania for the seven months of 2022 decreased by c. -5% y-o-y.
The major challenges for the Greek and European Economy remain. Retail sector cannot be an exception.
Early in the crisis of absurd price increases in transportation, in raw materials and the high inflation both in Greece and abroad, Jumbo Group started building an effective fortress to defend the consumer.
From the beginning, the Group refused to give in to the temptation of a general and horizontal increase in prices.
All those products that the price-quality correlation were at the expense of the consumer were excluded from the product range of JUMBO stores.
The Fortress of the consumer of Jumbo, delivered specific measurable results.
Jumbo Group's sales in July 2022 recorded an increase of +3%, contrary to the general market outlook.
Overall, in the 7 months of 2022 (January-July 2022), the Group's sales recorded an increase of c. +11% y-o-y.
Sales performance by country:
Greece: In July 2022, the net sales of the parent company - excluding intragroup sales – decreased marginally by c. -0,5% compared to July 2021, due to the fact that the last day of the month this year was a Sunday with the stores closed. On a comparable basis, sales were up by c. 1,5% y-o-y.
Overall, for the seven-month period of 2022, the net sales of the parent company - excluding intragroup sales- increased by c. +17% y-o-y.
Cyprus: Sales in July 2022 increased by c. +21% y-o-y and maintained the strong performance.
Overall sales in Cyprus for the seven-month period of 2022 increased by approximately +24% y-o-y.
Bulgaria: The network's sales increased by c. 4% y-o-y in July 2022. Sales in Bulgaria for the seven-month period of 2022 increased by c. +0,6% y-o-y.
Romania: The network's sales increased by c. +3% y-o-y in July 2022. Sales in Romania for the seven months of 2022 decreased by c. -5% y-o-y.
The major challenges for the Greek and European Economy remain. Retail sector cannot be an exception.
- There are no signs of transport costs de-escalation for European destinations.
- The strengthening of the dollar against the euro increases the cost of products and services.
- Geopolitical conditions along with energy uncertainty maintain unreasonable price levels and inflationary expectations.