Jumbo absorbs higher costs as Cyprus sales rise 15 per cent

Jumbo's Cyprus sales grow 8 per cent in first ten monthsJumbo recorded a 15 per cent increase in sales in Cyprus in October 2026, as the retail group reported its strongest monthly sales growth of the year across its operations, with overall revenues rising by approximately 13 per cent year-on-year. The Cyprus performance was also stronger than the group’s overall growth for the first ten months of the year, during which sales across its markets increased by approximately 6.7 per cent compared with the corresponding period in 2025. For the January to October period, sales in Cyprus grew by approximately 8 per cent, according to the group’s latest trading update. Jumbo said it had chosen to absorb additional costs arising from the Middle East crisis, including higher energy and transport expenses, as well as the impact of VAT increases and the depreciation of the Romanian leu. The group said consumers had responded positively to its decision to absorb these costs rather than pass them on through higher prices. “At a time when household budgets remain under pressure, maintaining stable and competitive prices, a core business principle, proves to be the Group’s most effective investment,” the company said. “The customer should always benefit from any transitionary period,” it added. The group reported that October had delivered its strongest monthly sales growth of 2026, with turnover increasing by approximately 13 per cent across its operations compared with October last year. In Greece, the parent company’s net sales, excluding transactions between group companies, rose by approximately 13 per cent in October, bringing growth for the first ten months to around 9 per cent. Bulgaria recorded the strongest October performance among the group’s individual markets, with sales increasing by approximately 21 per cent, including activity through its local online platform. For the January to October period, Bulgarian sales grew by approximately 14 per cent. Romania, meanwhile, recorded a more moderate performance, with sales across its stores and local e-commerce platform increasing by approximately 5 per cent in October. However, the Romanian operation’s sales declined by approximately 4 per cent in euro terms over the first ten months of the year, while remaining broadly unchanged when measured in Romanian lei. Jumbo also continued expanding its physical presence, with a new hyper-store opening in Baia Mare towards the end of October, bringing its Romanian network to 21 stores. Across its four directly operated markets, the group now has 90 stores, comprising 53 in Greece, six in Cyprus, 10 in Bulgaria and 21 in Romania. In addition to its physical outlets, Jumbo operates online stores in Greece, Cyprus, Romania and Bulgaria. Since early November, it has also extended its online presence to Hungary, which is currently serviced through its Romanian online operation. The group’s international expansion is also continuing through franchise partnerships. In October, its local franchise partner opened the ninth Jumbo store in Israel, further strengthening the brand’s presence in that market. Through partnerships, the group now has 49 Jumbo-branded stores across seven countries, namely Albania, Kosovo, Serbia, North Macedonia, Bosnia and Herzegovina, Montenegro and Israel. The company also expects the first Jumbo-branded stores in Moldova and Canada to open before the end of 2026, marking further expansion into new markets. Meanwhile, the group confirmed that an extraordinary cash distribution of €1 per share gross will begin being paid to shareholders on November 20, 2026. The shares will trade ex-dividend from November 16, meaning investors purchasing shares from that date will not be entitled to the distribution. The payment will bring Jumbo’s total cash distributions to shareholders in 2026 to €2.20 per share, representing approximately €295.6 million overall. Looking ahead, management said it remained cautiously optimistic ahead of the Christmas trading period, traditionally an important period for the retailer.