Jeronimo Martins posts solid 2020 results

Multi-market Portugal-based retail conglomerate Jeronimo Martins has reported its full-year 2020 results for the period ended 12 January 2021, according to Kantar Retail IQ. Biedronka led growth in the food retail sector in Poland, proving the effectiveness of its speed of response from the first moment of the pandemic, as well as the flexibility of the operation and creativity used to reinforce the competitiveness of its value proposition. Despite the severity of the restriction measures in Portugal, Pingo Doce and Recheio maintained a strong commercial dynamic and spirit of initiative, continuously reinforcing their capacity to mitigate the negative effects from the pandemic. In Colombia, Ara preserved its value proposition during the confinement period with a return to sales growth happening immediately containment measures were lifted.

Overall sales increased 3.5% to €19.3 billion compared to 2019. Biedronka sales in local currency increased by 10.4%, with like-for-like sales up 7.1%. Pingo Doce sales decreased 1.9%, with like-for-likes excluding fuel sales down 2.2%. Recheio sales fell 15.9% to €847 million. Hebe sales in local currency dropped 2.2% to €245 million. Ara sales in local currency increased 24.4% to €854 million, with like-for-like sales increasing by 10.2%.