**Cyprus Shoppers Give Jumbo Sales a July Boost**
The Greek retail group Jumbo has reported a significant increase in sales in Cyprus for July 2026, marking one of its strongest monthly performances in the region. According to the company's latest financial results, sales surged by approximately 14 percent compared to the same month last year. This uptick has helped align the retailer's overall performance with management expectations, following a challenging period for the retail sector in Europe.
For the first seven months of 2026, Jumbo's sales in Cyprus rose by around 6 percent, outpacing the group's overall growth rate. The broader Jumbo Group, which operates across various markets, saw a 9 percent increase in sales for July, a notable acceleration from the 7 percent growth recorded in June. Consequently, sales for the January-to-July period across the group were approximately 5 percent higher year-on-year.
Management has expressed optimism regarding the company's financial outlook, maintaining a forecast for full-year sales growth of about 5 percent. They anticipate net profits to fall between €310 million and €320 million. The strong sales figures for July are particularly encouraging given the ongoing geopolitical uncertainties and the pressures faced by the European retail landscape.
Jumbo's performance in Cyprus reflects a resilience in consumer confidence, with the company noting that its relationship with customers remains robust despite the broader market challenges. The positive sales trend was echoed in Greece, where the parent company reported a 10 percent increase in net sales for July, contributing to an 8 percent growth over the first seven months of the year.
However, not all markets under Jumbo's umbrella experienced growth. Bulgaria emerged as a standout performer, with sales through its physical stores and local e-commerce platform soaring by approximately 21 percent year-on-year in July. Over the seven-month period, Bulgarian sales increased by around 13 percent. In contrast, Romania was the only market to record a decline, with sales dropping by approximately 3 percent in July and around 6 percent for the first seven months. The company attributed Romania's weaker performance to fiscal tightening measures and challenging consumer demand.
Despite the setbacks in Romania, Jumbo is committed to its investment strategy in the country, with plans to open a new hyper-store in Baia Mare before the end of the year. The group is also expanding its footprint outside of established European markets. In early August, Jumbo's local franchise partner inaugurated the brand's eighth store in Israel, with another store slated to open by the end of 2026. Additionally, the company is preparing to launch its first store in Canada, scheduled for the fourth quarter of this year.
In light of recent regulatory changes, Jumbo has welcomed the European Union's decision to abolish the customs duty exemption on imports valued up to €150 from non-EU countries, effective July 1. This change, which includes a temporary €3 handling charge per tariff classification, has been described by the company as a strict measure. However, Jumbo views it as a crucial step towards establishing fairer competitive conditions between European retailers and large international e-commerce platforms.
As Jumbo continues to navigate the complexities of the retail environment, the company's recent sales performance in Cyprus and other markets underscores its adaptability and resilience in the face of economic challenges. With ongoing investments and strategic expansions, Jumbo aims to maintain its growth trajectory while enhancing its competitive position in the retail sector.