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Retail

Jerónimo Martins Invests €55 Million In Employee Bonuses

Retailer Jerónimo Martins has announced an investment of €55 million in an 'extraordinary bonus', for its employees in Poland, Portugal and Colombia.

The group awarded the bonus in April to some 80,000 employees, mainly in stores and distribution centres.

The decision to award the bonus followed a proposal from chairman Pedro Soares dos Santos, which was approved by Jerónimo Martins' board of directors.

‘Recognition of Work’

In a statement, the group said that the bonus was a 'recognition of the work and the contribution of these employees to the group’s results in 2021'.

In Portugal, the bonus amount was €550, with bonuses paid to more than 21,000 employees – a total investment of €11 million. This was paid on top of employees' variable monthly pay and employee support programmes.

In 2021, the group invested more than €25 million in variable monthly pay to employees in Portugal, and €5 million in social responsibility programmes designed for its employees in the country, an increase on the €3.2 million paid the previous year.

Considering all the bonuses paid to employees in the three geographies in which it operates, the group invested €217 million, equivalent to approximately 70% of profits in the previous year.

Quarterly Performance

In April, the group reported a 15.2% increase in consolidated net sales in the first three months of the year, to €5.5 billion, driven by a 13.4% increase in sales at its Polish chain Biedronka.

Sales at its Portuguese retail banner Pingo Doce rose 6% in the quarter.

© 2022 European Supermarket Magazine – your source for the latest Retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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