Dutch Retailer Jumbo Sees Sales Rise 4.7% In First Half
Dutch retailer Jumbo has seen sales rise 4.7% to €3.76 billion in the first half of its financial year, with the business now holding a 19% share of the Dutch retail market.
The group said that its revenue growth was almost entirely driven by its existing portfolio of stores (+4.0%), with the business outperforming the wider retail market, which averaged +2.7% growth.
Laying A Foundation
"Due to our strong market position and continued customer focus, we have laid a solid foundation for further growth,” said Jumbo chief executive Frits van Eerd. “Customers appreciate our store formula and our annual and seasonal offers. We ensure our prices remain low without compromising on quality.”
In the period, Jumbo continued to renovate its existing stores, launched a new city centre convenience concept and expanded its online activities. Online sales at the retailer have more than doubled over the past year, with the number of Pick Up Points operated by the group now standing at more than 360.
In addition, the group’s La Place restaurant business also posted strong growth, with sales up 28.5% to €60.4 million. The group plans to open nine new restaurants in Dutch outlets of the Hudson’s Bay department store in the Netherlands, with new openings in Paris and Madrid also scheduled.
"La Place is now fully integrated into the Jumbo family, with a strong focus on national and international expansion,” said Bart van den Nieuwenhof, Managing Director of La Place. "The synergy between La Place and Jumbo clearly begins to bear fruit. The new concept for in-house convenience stores, which brings together elements of both La Place and Jumbo, is a great example. "
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.