Dutch retailer Jumbo has reported a 1.6% increase in turnover in the first half of its financial year, to €5.46 billion, in what the group said was a 'turbulent' period.
“We are satisfied with the turnover development achieved so far, especially in light of the challenging market conditions," commented Jumbo managing director Frits van Eerd, who cited the remnants of coronavirus measures and the situation in Ukraine as both factors that weighed on the group.
"The challenges are diverse and increasing in size, and it does not appear that calm will return to the market in the coming months," he added.
Belgium Expansion Continues
During the period, the group continued its expansion into the Belgian market, with the opening of four stores, with the group hoping to operate a network of 27 outlets across Belgium by the end of this year.
It also opened its ninth Jumbo Foodmarkt outlet, in Dordrecht. In the Netherlands, Jumbo now boasts a portfolio of 687 stores.
Its La Place foodservice business saw a return to growth, contributing €51 million in sales – the business was impacted significantly by the COVID pandemic.
Elsewhere, as part of the expansion of its online activities, the business has strengthened its collaboration with quick commerce operator Gorillas, with more than 1,600 products available through the platform. La Place has also upped its home delivery capabilities with Thuisbezorgd.nl and Uber Eats.
The retailer said that it is 'sticking to its target' of achieving €10 billion in sales this year, despite the current market challenges.
"We will also remain extra alert to costs and focus with confidence on the strategic choices we made at the beginning of this year," said van Eerd.