by FoodBizDaily.com staff writer
January 15 2010 - Portuguese retailer, Jerónimo Martins, said its preliminary 2009 sales grow by 6.1%, as its expansion plans in Poland appear to be paying off.
In a constant exchange rate basis, it said group sales increased by 18.4%, with the Polish retailer Biedronka expanding by 29.8% (or 5.8% in euros).
The Company opened 163 new stores in Poland in 2009, bringing the total number of stores to 1,466 at year-end.
In Portugal, where it is one of the leading retailers, Pingo Doce total sales grew by 12.8%.
The company stated: “The growth attained was underpinned by like-for-like increases in sales that outperformed the respective sectors, reflecting the reinforcement of competitive price policies underlined by efficient cost structures and the completion of the ambitious expansion plan for Poland.”
Looking ahead, although aware that 2010 will continue to see difficult and demanding macroeconomic conditions, the group said it is “prepared to cope with the forthcoming challenges and respond to the market with strong value propositions for all its consumers”.
FoodBizIntel®
Jeronimo Martins SGPS SA
Address: Rua Tierno Galvan Torre 3, Piso 9, letra J Lisbon, 1099-008 Portugal
Telephone: +351-21-7532000
Fax: +351-21-7526174
About Jeronimo Martins SGPS SA
Jeronimo Martins SGPS SA is a Portugal-based holding company principally engaged in the retail and wholesale operations in Portugal and Poland. The Company's business is structured in three segments: Distribution, Manufacturing and Services. In the distribution segment, the Company operates super and hypermarkets (Pingo Doce, Feira Nova and Recheio) in Portugal and retail stores (Biedronka) and pharmacies (Bliska Apteka Na Zdrowie) in Poland. In the Manufacturing Department, the Company operates through Unilever Jeronimo Martins Lda, specialized in spreads and cooking, olive oil, tea, soups, savory, home and personal care, ice cream and food products. The Company's Services segment is comprised of three subsidiaries: Jeronimo Martins Restauracao e Servicos, Hussel and Jeronimo Martins Distribuicao de Produtos de Consumo, which are active in specialized retail, food and cosmetics servicing.