The sales of the Jumbo Group recorded an increase of approximately 3% in July, in contrast to the general picture of the market, while overall sales during the first seven months of the year (January-July 2022) are recorded to have increased by approximately +11%.
However, as the listed company notes in its announcement, the disruption of the global supply chain violently overturned years of balance, causing a serious retail crisis that continues.
Under these conditions, retail sales cannot maintain the figures of the pre-pandemic years and do not favor ambitious business goals.
The Jumbo Group, from the first day that the crisis of unreasonable precision in transportation and raw materials and also the rampant inflation within and outside the borders manifested itself, began to create an effective fortress for the defense of the consumer.
From day one, the Jumbo Group refused to succumb to the temptation of a generalized and horizontal price increase.
Excluded from the product range of Jumbo stores were all those products in which the price-quality relationship ended at the expense of the consumer.
The Fortress of the JUMBO consumer, in all the markets in which the Group operates, resists inflationary pressures and yields specific measurable results.
The sales process in detail:
Hellas: For July 2022, the parent company’s net sales (excluding intra-company transactions) showed a slight decrease of about -0.5% compared to July 2021, due to the fact that the last day of the month this year was a Sunday where the shops were closed. On a comparable basis, sales were up by around 1.5% compared to July 2021.
In total for the seven months of 2022, the parent company’s net sales – excluding intercompany transactions – showed an increase of approximately +17% compared to the corresponding seven months of last year.
Cyprus: Sales during July 2022 increased by approximately +21%, compared to the corresponding month last year, continuing their dynamic course.
In total, sales in Cyprus for the seven months of 2022 have increased by approximately +24%, compared to the corresponding seven months last year.
Bulgaria: Network sales recorded an increase of approximately +4% in July 2022, compared to the corresponding month last year.
Consequently, the sales of the stores, in Bulgaria, for the seven months of 2022 should be increased by approximately +0.6% compared to the corresponding seven months of last year.
Romania: Network sales increased by approximately +3% in July 2022, compared to the corresponding month last year.
Overall sales, in Romania, for the seven months of 2022 are reduced by approximately -5%, compared to the corresponding seven months of last year.
Without a doubt, the major challenges for the Greek and European Economy remain. Retail cannot be an exception.
Transport costs show no signs of abating for Europe.
The steady strengthening of the dollar against the euro is weighing on the cost of products and services.
Geopolitical conditions along with energy insecurity maintain unreasonable price levels and inflationary expectations.
For the JUMBO Group, the benefit of the consumer is a priority. The numbers and figures prove the soundness of this strategy.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
