Jumbo sales fell by 14.8% in January 2022 compared to the corresponding month last year, according to data announced today by the group. It is noted that the sales of January 2022 are compared with the strong demand of January 2021 created by the restrictions imposed at the end of 2020 in Greece. Also, as the group estimates, this year’s sales were negatively affected by extreme weather events, the increase of Covid-19 cases with the Omicron variant, by the increases in energy and essential consumer goods as well as by the strikes in the ports.
The Group’s management estimates that on a normalized basis the sales for January 2022 would fluctuate at the corresponding levels last year with the inflationary pressures affecting the Balkan countries more.
Positive trends in February
The trend presented today, February 2022, is positive, while during the corresponding month last year, 30 of the 52 stores in Greece remained closed. It is recalled that in a certain “normality” the stores in Greece returned in April. Taking into account the above, management estimates that if the current trends prevail, the cumulative sales for the first two months of 2022 can be stable or even upwards by a low single digit percentage compared to the corresponding two months last year.
The course of sales by country
• Greece: In January 2022, all stores in Greece remained open, but operated under the well-known restrictions. Overall for January 2022, the net sales of the parent company and excluding intra-company transactions, decreased by -21% compared to January 2021. It is recalled that in January 2021, the stores in Greece operated for the first time after two months of continuous lockdown and consequently showed exceptional dynamics.
• Cyprus: All stores continued to operate without new restrictions. It is recalled that part of January 2021, the stores in the country remained closed. As a result, sales in January 2022 appear increased by more than + 200%, compared to the corresponding month last year.
• Bulgaria: Stores continued to operate with the same strict restrictions and low vaccination coverage, throughout the country. The sales of the network recorded a decrease of -38% in January 2022, compared to the corresponding month last year where a store remained closed.
• Romania: Stores continued to operate under the same strict restrictions. The sales of the network recorded a decrease of -21% approximately in January 2022, compared to the corresponding month last year. The strong and sound financial position of the Group is a comparative advantage over the difficulties and constant surprises of the supply chain. The strategic choices for the continuation of the investment program and constant rewarding of the shareholders-partners with high dividend yields remain unchanged.
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