Portuguese retail group Jerónimo Martins has reported 7.5% growth in consolidated sales in its financial year 2019, to €18.6 billion.
The retailer posted like-for-like sales growth of 5.3% during this period.
It benefited from low food inflation of 0.3% in Portugal and a favourable consumer environment, particularly in Poland and Colombia, it said.
All banners operated by the group reported an increase in sales, with Poland and Portugal posting growth above the market average.
Performance In Portugal
In Portugal, Pingo Doce saw 2.9% growth in annual turnover to €3.94 billion (including a 2.6% increase in sales, to €1.03 billion, in the fourth quarter).
The banner accounted for 21.2% of total group turnover, with like-for-like growth of 2.5%.
Pingo Doce opened nine new stores in 2019 and refurbished 44 stores.
Jerónimo Martins' cash and carry banner, Recheio closed its financial year with a 2.7% increase in sales to €1.0 billion, and like-for-like growth of 3.2%.
Other Markets
In Poland, discount supermarket chain Biedronka, which accounts for the largest share of group sales (67.7%), posted a turnover of €12.6 billion, up 7.9% or 8.8% in local currency, and like-for-like growth of 7.4%.
The banner added 33 smaller format and 95 traditional stores to its network, while 252 existing stores were remodelled.
The retail group's health and beauty chain, Hebe posted 24.9% growth in turnover to €259 million (+24.6% to €79 million in Q4), partly driven by the launch of an e-commerce service in July.
Colombian supermarket chain Ara ended the financial year with a turnover of €784 million.
The retailer opened 85 stores during this period and ended the year with a store count of 616.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
