- In Greece, consumers voted for the combination of quality and prices that Jumbo offers, despite the large fluctuations and the general anemic results in domestic retail market.
- Sales in Greece (net sales of the parent company excluding intragroup sales) grew approximately by +3,5% y-o-y.
- A new hyper store opened in Katerini (approximately 13.000 sqm).
- The first one in the area of Bucharest (approximately 13.600 sq. m.) since the end of September 2018.
- The second one in Bacau (approximately 12.900 sq. m) since November 2018.
- The third one in Braila (approximately 12.000 sq. m) that opened in March 2019.
Consequently, JUMBO operates today 79 stores, 52 of which are located in Greece, 5 in Cyprus, 9 in Bulgaria and 13 in Romania. The Group also operates its online store
www.e-jumbo.gr.
The Group has also a presence through partnerships in 5 countries with 23 stores that operate under JUMBO brand name (Albania, Kosovo, Serbia, North Macedonia and Bosnia). The opening of the first store of a partner is expected in Montenegro during the next financial year 2019/202.
New network expansion
Another owned hyper-store is expected to open in Brasov, Romania in November 2019. The company continues to expand in Romania aiming to open three new hyper-stores in total during 2019/2020. Also,one more owned hyper store is expected to open in Cyprus.
Network expansion combined with the stabilization in a positive pace of the Greek market are expected to contribute to the mid-single digit growth rate of sales (5%) budgeted for the new financial year 2019/2020.
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Jumbo SA published this content on 15 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2019 15:09:01 UTC