Jumbo an­nual sales in­crease 6.8 per­cent

Kathimerini English - - Focus -

Greek re­tailer Jumbo posted yes­ter­day a 6.8 per­cent rise in sales for its fis­cal year to the end of June, thanks to strong growth in Ro­ma­nia and Bul­garia. It said it ex­pected sales to rise by 6 to 9 per­cent in the next 12 months. Jumbo has fared well be­cause of its low-cost prod­ucts and for­eign op­er­a­tions de­spite seven years of aus­ter­ity in Greece. The com­pany re­ported sales of 681.4 mil­lion eu­ros in the 12 months to the end of June from 637.6 mil­lion in the same pe­riod a year ago. Rev­enues from its Ro­ma­nian and Bul­gar­ian op­er­a­tions rose by 36 per­cent and 24 per­cent re­spec­tively. Jumbo op­er­ates 51 stores in Greece and an­other 22 stores in Cyprus, Bul­garia and Ro­ma­nia. Un­der its ex­pan­sion strat­egy, the re­tailer plans to op­er­ate at least 17 new out­lets in Ro­ma­nia in the next five years in ad­di­tion to the eight it has. Three new stores were ex­pected to open in Roma-

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