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Friday, July 19, 2024

When does the new Jumbo open in Nicosia?

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Reconstruction of the building, both inside and out, is in its final stages, with the new store ready to open its doors this summer

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<p> The new Jumbo store, with its choice of location, will effectively cover the eastern side of Nicosia, as well as the surrounding areas of the province. </p>
<p>Nicosia is preparing to welcome the second Jumbo store. This is the chain's sixth store in Cyprus. The new store of the well-known chain will be housed in the former headquarters of the Stefanidis group, in the area of ​​Mall Of Cyprus and IKEA in Strovolos, at the entrance to Nicosia.</p>
<p>The new Jumbo store, with its choice of location, will essentially cover the eastern side of Nicosia, as well as the surrounding areas of the province. This is an area with particular commercial traffic, a fact which will help the company to attract the consumer public, thus serving a large portion of the capital's residents. It is important that the chain's new store will have a large parking space, contributing to the effort to reduce the heavy traffic that is observed in the area.</p>
<p>The reconstruction work of the building, both inside and out, is in its final stages, with the new store ready to open its doors in the summer. Let us recall that the property was owned by the Bank of Cyprus, which had put it up for sale at 18.3 million euros, with the Jumbo group having agreed with the bank to acquire it. The new Jumbo store will have a total area of ​​approximately 10,000 m2, while it will have around 460 parking spaces, some of which are for the disabled.</p>
<p><strong>The profits of the Jumbo group for 2024 </strong></p>
<p>Coming to the halfway point of the year, the data for the Jumbo group appears to be positive, with sales showing an increase of around 8% – for the first five months of 2024. According to a statement from the group, “The management of the Jumbo group remains cautious about regarding the evolution of the sizes for the rest of the year, it maintains – for now – its estimates for an increase in turnover and profits of the order of +8% to +10%, but commits to review the overall context of its guidance in July, after analyzing the figures of the first half of the year combined with the international geopolitical environment”.</p>
<p>Specifically for the month of May, the group recorded a sales increase of +10% in total, compared to the corresponding month last year. However, we should note that the May sales also include a part of the Easter shopping, which definitely influenced the increase in purchases by the consumer public.</p>
<p><strong>The course of sales</strong></p>
<p>According to an announcement by the group, the sales figures for the first months of the year for each country in which it is present are as follows:</p>
<p>The sales of Jumbo stores during the month of May 2024 in Cyprus were increased by approximately 1%. In total, the sales of the stores in Cyprus for the first five months of 2024 have increased by approximately 3%, compared to the corresponding period last year.</p>
<p>In May 2024, the parent company's net sales (excluding intercompany transactions) increased by approximately +10%. Overall, for the first five months of 2024, the parent company's net sales – excluding intercompany transactions – showed an increase of approximately +8% compared to the same period in 2023. It is noted that at the beginning of June, the fully renovated Jumbo superstore started operating in Larissa, which remained closed due to the unprecedented flooding phenomenon at the beginning of September 2023.</p>
<p>Network sales recorded an increase of approximately +9% in May 2024, compared to the corresponding month last year. Overall, sales in Bulgaria, for the first five months of 2024, have increased by approximately +9%, compared to the corresponding period last year.</p>
<p>The sales of the network as well as the online store (www.e-jumbo.ro) recorded an increase of approximately +16%, in May 2024, compared to the corresponding month last year. Overall, sales in Romania, for the first five months of 2024, have increased by approximately +13%, compared to the corresponding period last year.</p>
<p><strong>The history of the group</strong></p>
<p>With more than 35 years of history, the Greek Jumbo group has managed to win the recognition and trust of young and old, staying at the side of its customers over time, offering them a rich range of toys, baby items, seasonal items, decorations and stationery and other products. With a presence in Cyprus, Greece, Bulgaria and Romania, Jumbo employs almost 7,000 people and is one of the largest retail companies. The group currently has 87 stores, of which 55 are in Greece, six in Cyprus, ten in Bulgaria and 16 in Romania, while it also has an online store. In addition, the group, through partnerships, has a presence with stores bearing the Jumbo brand, in seven countries, Albania, Israel, Kosovo, Serbia, North Macedonia, Montenegro and Bosnia.</p>
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<div class=Source: www.kathimerini.com.cy

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