**Cyprus Shoppers Drive Jumbo Sales Growth in August**
Cyprus shoppers have continued to bolster the performance of Jumbo, a leading retail chain, with sales at its stores on the island rising by approximately 9% year-on-year in August. This follows a notable 14% increase in sales recorded in July, indicating a strong upward trend in consumer spending at Jumbo outlets.
For the first eight months of 2026, Jumbo's sales in Cyprus have grown by around 6%, slightly surpassing the overall group-wide growth rate. The positive performance in Cyprus aligns with broader trends observed across the Jumbo group, which reported a 9% increase in sales for August. The group’s sales from January to August rose by approximately 5.8% year-on-year, positioning the retailer ahead of its management's full-year target of around 5%.
In addition to the sales growth, Jumbo has announced plans for an extraordinary cash distribution of €1 per share, which will be proposed at an upcoming board meeting. If approved, this distribution will bring the total cash payouts to shareholders for 2026 to €2.20 per share. Since the beginning of the year, Jumbo has already distributed €161.2 million, equivalent to €1.20 per share.
The ex-distribution date is set for November 16, with the record date on November 17, and payments scheduled for November 20. Despite the positive sales performance, management has maintained its forecast for full-year sales growth of approximately 5% and net profit expectations between €310 million and €320 million. The cautious outlook reflects the significance of the final four months of the year for overall performance and the ongoing uncertainties in the global trading environment, including volatility in energy prices and transport costs due to rising tensions in the Middle East.
In comparison to its other markets, Greece experienced the strongest sales performance in August, following Bulgaria. The parent company reported a net sales increase of approximately 11% for the month, with growth for the first eight months reaching around 8%. Bulgaria led the group’s markets with a remarkable 17% increase in sales for August, while sales during the first eight months surged by about 14%.
In contrast, Romania's performance lagged behind the other markets, with sales remaining unchanged in August compared to the previous year. For the first eight months, sales in Romania fell by approximately 5%. This decline can be attributed to an increase in the standard VAT rate from 19% to 21% on August 1, 2025, which Jumbo absorbed rather than passing onto consumers. As a result, sales from August onwards are being compared against a more favorable base, an adjustment already factored into the group’s sales budget for 2026.
Despite the challenges in Romania, Jumbo is committed to its investment strategy in the country, with plans to open a new hyperstore in Baia Mare at the end of October. The group is set to release detailed financial results for the first half of 2026 on September 24, prior to the opening of the Athens Stock Exchange.
As Jumbo continues to navigate a complex retail landscape, it remains focused on maintaining competitive pricing and protecting consumers’ purchasing power, ensuring that it can adapt to the evolving market conditions while delivering value to its shareholders.