Greece-based toy retailer Jumbo on Tuesday announced higher sales in 2021, by 19.87 yoy, or 832 million euros in absolute terms.
Group EBITDA in 2021 reached 305 million euros, an increase of 46 percent yoy, exceeding 2019 figure.
Jumbo attributed the better-than expected performance to a “defense strategy” regarding inventory management, which led to a gross profit margin in 2021 to 55.7 percent from 51.8 percent in 2020. In addition, operating costs were contained.
At the end of 2021, the Group reported net cash reserves of 549 million euros, compared to 359 million euros on Dec. 31, 2020.
The Jumbo group said its latest hyper-store in Greece will open on the eastern Aegean island of Lesvos, in the capital of Mytilene, next week.
Additionally, another hyper-store will commence operations in Cyprus. As for Romania, two new hyper-stores will most likely open by year-end, one in Bucharest and one in Sibiu.
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