JUMBO's Cyprus sales up 3% y-o-y since beginning of year

Greek retail giant JUMBO Group saw its Cyprus network’s sales increase by 3% y-o-y in the first four months of 2024, with the Group’s overall sales rising 8% compared to the same period last year.

Jumbo Group's sales in April 2024 were up by c 11% compared to the same month last year.

According to an announcement by Athens Exchange Group (ATHEX Group), from the beginning of the year up to 5 May, JUMBO Group’s sales overall were up by c.10% y-o-y, which it said “captures the whole of Easter related trading, and is at the upper end of the budgeted full year sales growth”.

In a previous announcement, the Group’s management had indicated its intention to revise its estimates based on sales performance over the Easter period. For the time being, it said, it is maintaining its sales and earnings growth estimates for the year in a range of +8% to +10%.

Meanwhile, the management intends to propose a dividend of €1 (gross) per share – representing 45% of the Group's 2023 net profit – at the Group’s next Annual General Meeting, to be held on 22 May, according to ATHEX Group’s report.

The Jumbo Group – a Greek company whose main operation is retail sale of toys, baby items, seasonal items, decoration items, books and stationery – operates 86 stores, of which 53 in Greece, 5 in Cyprus, 10 in Bulgaria and 18 in Romania.

Sales performance by country:

Greece

In April 2024, the net sales of the parent company - excluding intragroup sales – increased by c. 9% y-o-y. The restored Jumbo hyper-store in Karditsa restarted operations. The store was closed due to the unprecedented floods in early September 2023.

Overall, for the first four months of 2024 the net sales of the parent company - excluding intragroup sales – increased by c. 5% y-o-y.

Cyprus

The network's sales increased by c. 1% y-o-y in April 2024. Overall, for the first four months of 2024 the network's sales increased by c. 3% y-o-y.

Bulgaria

The network's sales increased by c. 7% y-o-y in April 2024. Overall, for the first four months of 2024 the network's sales increased by c. 9% 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 April 2024. Overall, for the first four months of 2024 the network's sales increased by c. 12% y-o-y.

In April 2024, one more owned store was added in Oradea, Romania, JUMBO's second store in the city.