Dutch retailer Jumbo posted a record turnover of €7.01 billion in 2017, representing growth of 5%, compared to the previous year.
The retailer says that this increase is largely attributed to organic growth in its existing store network, which went up by 4.2% year on year.
The number of Jumbo outlets increased to 585 stores during the year, and the retailer now has a market share of over 19% in the Netherlands.
Additionally, Jumbo says that its online turnover more than doubled in 2017, and it now offers a grocery-delivery service in 225 of its stores, as well as grocery pickup in 390 stores.
“Jumbo continues to distinguish itself through customer focus and a strong offer of high quality at low prices,” said company CEO Frits van Eerd.
“We continue to invest in the attractiveness of our stores, and will put even more emphasis on our range and new innovations in the new year,” van Eerd continued.
Future Expansion
Jumbo says that it is ready for its next growth phase, following the expansion of its store network and its online services in 2017, as well as the introduction of the Jumbo City convenience-store concept.
In 2018, the retailer plans to increase its portfolio to 600 stores, including ten new Jumbo City outlets and three Jumbo Foodmarkten.
Jumbo intends to continue investing in its existing store network, as well as in a new 200,000-square-metre distribution centre in Nieuwegein. Construction is set to begin during the first quarter of the year and expected to be completed in 2020.
It is also reported that the retailer could be looking to open its first store in Belgium.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
