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Saturday, March 6, 2021

jumbo:The stores remain closed. The carnival season is lost. Hopes that the Easter festive season will not be lost.



The management of the JUMBO Group informs its shareholders-partners, in accordance with its usual practice, that the special conditions created in the retail sector due to the pandemic crisis, negatively affected the financial figures for the month of February 2021.
The Group's sales, in February 2021, recorded a decrease of approximately -34% y-o-y. This means that during the first two months of 2021, Group’s sales declined by approximately -19% y-o-y, from -0,6% y-o-y during the relatively optimistic January of 2021.

Last year, in February 2020, all stores in all countries where Jumbo Group operates were open. In addition, the seasonality of the carnival festive season, which ended in early March, positively affected the sales for this month.

This year, in February 2021, from the network of 52 stores in Greece, 30 stores in the "red" areas of Greece (Attica, Patras, Chalkida and Thessaloniki) remained closed for most of the month.

• As a result, the net sales of the parent company - excluding intragroup sales –decreased by approximately -55%, compared to last February.

• Cyprus: On February 8, 2021, all the stores started operating again. As a result, sales of the stores in Cyprus decreased by approximately -20%, compared to February 2020.
• Bulgaria: All Jumbo stores were open. During February 2021, sales of the stores in Bulgaria increased by approximately +10% y-o-y.

• Romania: all 14 Jumbo stores in the country were open, recording sales increase by approximately + 22% compared to February 2020 with the same number of stores operating.

Today, with the 31 out of 52 stores in Greece remaining closed, another Carnival season seems to be lost for good. The challenge of controlling the pandemic still remains, in order not to miss the Easter festive season for one more year.

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