The sales of the Jumbo group showed a 3% increase in July 2022.
In a statement, the group defended its strategy to exclude from shelves products the price-quality ratio of which it considers detrimental for consumers.
“Crisis of Absurd Inflation”
In particular, the group blamed the disruption of the global supply chain for causing a serious continuing crisis in retail trade, hindering retail sales and ambitious business goals.
The JUMBO Group also spoke of a crisis of absurdly high prices in transportation and raw materials and also rampant inflation which forced it to create a “fortress” as it called it, to protect consumers, weeding out products the price-quality ratio of which was detrimental for consumers and refusing to succumb to the temptation of a generalized and horizontal price increase.
Sales for the month of July 2022, contrary to the general picture of the market, showed an increase of approximately +3%. Overall, the sales for the Group during the first seven months of the year (January-July 2022), are recorded to have increased by approximately +11%”.
The course of sales in detail:
Greece: For July 2022, the parent company’s net sales (excluding intra-company transactions) showed a slight decrease of approximately -0.5% compared to July 2021, due to the fact that the last day of the month this year was a Sunday and shops were closed. On a comparable basis, sales were up by around 1.5% compared to July 2021.
In total for the seven months of 2022, the parent company’s net sales – excluding intercompany transactions – showed an increase of approximately +17% compared to the corresponding seven months of last year.
Cyprus: Sales during July 2022 increased by approximately +21%, compared to the corresponding month last year, continuing their dynamic course. In total, sales in Cyprus for the seven months of 2022 have increased by approximately +24%, compared to the corresponding seven months of 2021.
Bulgaria: Network sales recorded an increase of approximately +4% in July 2022, compared to the corresponding month last year. Consequently, the sales of the stores, in Bulgaria, for the seven months of 2022 should be up by approximately +0.6% compared to the corresponding seven months of last year.
Romania: Network sales increased by around +3% in July 2022, compared to the corresponding month last year. Overall sales, in Romania, for the seven months of 2022 fell by approximately -5%, compared to the corresponding seven months of last year.
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