Encouraging signs in a difficult period
For the Jumbo Group, the Christmas and New Year period is crucial, since it and traditionally accounts of c. 30% of the company's annual sales.
The up to date performance supports the Group’s strategy that consumers consistently reward the company’s determined and undeniable effort to bring prices in line with incomes. This strategy applies to thousands of SKU’S.
In November 2023, the Jumbo Group's sales increased by c. +10% y-o-y, despite the unusually high temperature for the season and headwinds on exports due to the war in Israel
We remind stakeholders that due to the unprecedented flooding in early September, one of the two stores in Larissa and the store in Karditsa remain closed. The company continues to work towards the full restoration and reopening of the stores.
Since the beginning of the year to date, the following stores have been in operation:
• The Group’s online store in Romania
• the new owned hyper-store in Iasi (Romania)
• the new leased hyper-store in the center of Plovdiv (Bulgaria)
Sales performance by country:
Greece:
In November 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 11% y-o-y.
Overall, for the 11-month period of 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 16% y-o-y.
Cyprus:
The network's sales increased by c. 4% y-o-y in November 2023. Overall, for the 11-month period of 2023 the network's sales increased by c. 12% y-o-y.
Bulgaria:
The network's sales increased by c. 13% y-o-y in November 2023. Overall, for the 11-month period of 2023 the network's sales increased by c. 14% y-o-y.
Romania:
The network's sales (including the on-line store www.e-jumbo.ro) increased by c. 10% y-o-y in November 2023. Overall, for the 11-month period of 2023 the network's sales increased by c. 15% y-o-y.
The up to date performance supports the Group’s strategy that consumers consistently reward the company’s determined and undeniable effort to bring prices in line with incomes. This strategy applies to thousands of SKU’S.
- Overall, for the 11-month period, the Group sales increased by c. 15% y-o-y.
In November 2023, the Jumbo Group's sales increased by c. +10% y-o-y, despite the unusually high temperature for the season and headwinds on exports due to the war in Israel
- Considering the up to date performance, management works hard to deliver its full-year estimate of a 12% y-o-y growth in sales and a 15% y-o-y growth in profitability.
We remind stakeholders that due to the unprecedented flooding in early September, one of the two stores in Larissa and the store in Karditsa remain closed. The company continues to work towards the full restoration and reopening of the stores.
Since the beginning of the year to date, the following stores have been in operation:
• The Group’s online store in Romania
• the new owned hyper-store in Iasi (Romania)
• the new leased hyper-store in the center of Plovdiv (Bulgaria)
Sales performance by country:
Greece:
In November 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 11% y-o-y.
Overall, for the 11-month period of 2023, the net sales of the parent company - excluding intragroup sales – increased by c. 16% y-o-y.
Cyprus:
The network's sales increased by c. 4% y-o-y in November 2023. Overall, for the 11-month period of 2023 the network's sales increased by c. 12% y-o-y.
Bulgaria:
The network's sales increased by c. 13% y-o-y in November 2023. Overall, for the 11-month period of 2023 the network's sales increased by c. 14% y-o-y.
Romania:
The network's sales (including the on-line store www.e-jumbo.ro) increased by c. 10% y-o-y in November 2023. Overall, for the 11-month period of 2023 the network's sales increased by c. 15% y-o-y.