Jerónimo Martins posts 7.2% sales increase in 2016 | Progresiv
Portuguese retailer Jerónimo Martins has announced an increase of 7.2% in like-for-like sales for the year 2016. Group sales reached 14.6 billion euros, 6.5% over 2015 (taking currency fluctuations into account). 
Revenue (in local currency) increased for all five of its banners: Polish banners Biedronka (+9.5% like-for-like) and Hebe (+27.5%); Portuguese stores Pingo Doce (+1.2% like-for-like, excluding fuel) and Recheio (+5% like-for-like); and Ara in Colombia (+110.2%).
Net profit totalled 593 million euros, up 14.5% on 2015, excluding the impact of the sale of its Monterroio manufacturing and services subsidiary.
Chairman and CEO Pedro Soares dos Santos commented on the results, "2016 was a year of delivery of the demanding targets set by the group". Polish banner Biedronka benefited from a 'more favourable consumption environment' after a full review of its offer and organisational structure.
In 2017, the retailer said it will keep up its promotional intensity, and doesn't expect costs to decrease, especially labour expenses. In Poland, Biedronka will concentrate on growing average basket spend, while the company plans to open 100 new stores (net) this year. (www.esmmagazine.com)
