Jerónimo Martins CEO Warns Of 'Uncertain' Christmas Ahead
The chief executive of Jerónimo Martins, Pedro Soares dos Santos, has suggested that the coming Christmas season may be "impacted by restrictions on mobility and lack of confidence [by] a more price-sensitive consumer", as a result of the COVID-19 pandemic.
dos Santos was commenting following the announcement of the Portuguese retailer's nine-month results, in which it reported a 3.9% increase in sales, to €14.2 billion, and a 1.9% drop in EBITDA.
"Six of the first nine months of 2020 were marked by the effects of the COVID-19 pandemic," he said. "During this period, the determination of our teams and the flexibility of our operations allowed us to be agile and creative. We adapted the value proposals of our banners to complex market conditions, reinforcing their assertiveness and relevance to the consumer.
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