Dutch retailer Jumbo Group has pointed to a jump in sales from its namesake format in 2011, a year when store disposals hit company revenues.
Jumbo said today (4 January) that its group sales in 2011 reached EUR3.23bn (US$4.18bn), down from the EUR3.51bn recorded in 2010.
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A spokesperson for Jumbo said the fall in sales was due to the company’s continued moves to sell stores in the wake of its 2009 takeover of local rival Super de Boer. When the deal was made, Jumbo agreed to sell 125 stores to third parties. At the start of 2011, Jumbo had 190 Super de Boer outlets. The spokesperson said Jumbo still runs 36 Super de Boer stores but all would be converted its namesake chain.
Sales from Jumbo’s eponymous format rose “almost 40%” in 2011 to EUR2.45bn, the retailer said. It cited a “strong” increase in sales from new stores and Super de Boer outlets converted to the Jumbo format. On an organic basis, sales inched up 2.5%, Jumbo said.
In November, Jumbo agreed to buy another local rival, C1000. The deal remains subject to competition approval but, should the takeover be cleared, the combined business will have 725 stores, generate sales of EUR7.5bn and account for around 23% of the Dutch grocery retail market. A decision is expected to be made by the spring.
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By GlobalData
