In the first half of this year, Jumbo saw its sales rise 1 % to six billion euros. The Dutch retailer points out that, without “special effects” such as expiring tobacco sales, growth would be higher.
Strong in Belgium
Revenue in Belgium grew by more than 20 % to over 200 million euro in the first half of the year. This growth was mainly due to a better performance within existing shops, as expansion with new shops is slower than hoped for in Belgium. The chain currently has 33 shops in Belgium, although it wants to add five more before the end of the year.
Jumbo’s online sales are stagnating, but the retailer is also performing very flat offline in the Netherlands. Jumbo points to price cuts (thanks to international purchasing collaborations) and declining tobacco sales as main reasons. At 71 million euros, La Place sold slightly more than last year, but the restaurant chain will soon be spun off once the sale is approved by the European Commission.
All in all, CEO Ton van Veen says to be satisfied, despite the “exciting times within retail and especially for supermarkets”. The CEO “sees customer numbers and also customer satisfaction increasing at Jumbo. From the past, we know that this is a harbinger of growth in the near future.” In September, Jumbo will open its first Belgian Foodmarket in Ghent: that too should help accelerate growth again.
