Jumbo concludes the year with a positive note, having recorded an increase in sales up until November. Therefore, the target set for a 4% sales increase for 2024 is expected to be achieved.

THE SALES TREND

By geographic region, the sales trend is as follows:

• Greece: In November, the parent company's net sales (excluding intercompany transactions) increased by 6%. In total for the eleven-month period, the parent company's net sales—excluding intra-company transactions—increased by 7%.
• Cyprus: The sales of the Cyprus stores in November were up 11%. It is recalled that the new privately owned hyperstore in Nicosia started operating at the end of October. Overall, store sales in Cyprus for the first eleven months of 2024 are up 2%.
• Bulgaria: Network sales in November were up 10%. Total sales in Bulgaria for the eleven-month period are up by 8%.
• Romania: Network sales as well as online store sales were up 6% in November compared to the same month last year. Towards the end of October, the new privately owned hyperstore in the centre of Bucharest started operations. Overall, sales in Romania in the first eleven months were up 10% year-on-year

THE SOURCES OF UNCERTAINTY

However, the pessimistic outlook of the management is sensational, once again avoiding giving guidance for 2025 and suspending the decision to publish the budget for next year. 

The reasons for not giving guidance are the following sources of uncertainty:

• The wars in the Middle East and Ukraine
• Political instability in France and Germany
• The trade tariffs by the US ahead of Donald Trump taking office
• The severe weather conditions affecting regions making the daily life of retailers difficult

POSITIVE TREND ON THE BOARD

However, despite the dark clouds that management sees overshadowing the markets, the company's stock has rebounded, and several analysts believe it has the fundamentals for another rise. It seems that the stock is putting the post-placement woes behind it and testing higher prices. 

THE HOLIDAY SEASON

Traditionally, during the Christmas holiday season, Jumbo's turnover increases and sales soar. The stores are already ready with new products and offers in order to achieve the sales growth target compared to the same period last year.