Jumbo: Sales up by +12.8% in the first half

Sales increased by 12.8% in the first half of the year for Jumbo toy and sundry retailer. Sales for the month of June 2022 remained stable despite coming during a period of consumer euphoria, following successive lock downs and severe restrictions caused by the pandemic, as reported by the company.

In particular, according to a relevant announcement, sales for the Group during the first half of the year (January-June 2022) are up by approximately +12.8% compared to the corresponding period last year, despite the income disruption caused by the inflationary boom and geopolitical conditions, energy insecurity and absurdly expensive transportation costs.

However, none of the parameters show improvement, but on the contrary, they tend to further destabilization, driving the system to its absolute limits, according to the company’s announcement

Sales

Greece

For June 2022, the parent company’s net sales (excluding intra-company transactions) showed a decrease of approximately -1.4% compared to June 2021.

Overall for the first half of 2022, the net sales of the parent company – excluding intercompany transactions – showed an increase of approximately +21% compared to the corresponding half of last year.

Cyprus

Sales in June 2022 increased by approximately +14%, compared to the corresponding month last year. In total, sales in Cyprus for the half of 2022 have increased by approximately +25%, compared to the corresponding half of last year.

Bulgaria

Sales recorded an increase of approximately +1.5% in June 2022, compared to the corresponding month last year. In total, the sales of the stores, in Bulgaria, for the semester of 2022 are reduced by approximately -0.3%, compared to the corresponding semester last year.

Romania

Network sales were down about -4% in June 2022, compared to the same month last year. Overall, sales in Romania for the half of 2022 are down by approximately -7%, compared to the corresponding half of last year.

New stores

As stated in the announcement, “The Jumbo Group is taking advantage of its strong financial position and continuing its investment program for 2022-2023.

Aiming to strengthen the Romanian market, JUMBO will proceed with the opening of another privately owned superstore in Sibiu, before Christmas 2022.

For 2023, two more superstores are expected to operate in Romania and one superstore in Cyprus. The operation of the online store in Romania is also expected to begin.

As far as 2024 is concerned, the uncertainty is such that moves which under normal circumstances would have taken place today have for the time being been postponed due to the uncontrolled increase in costs and the likely side effects this may have on the competitiveness of any of our future investment options.