Greek retail group Jumbo recorded one of its strongest performances in Cyprus in July, with sales rising by approximately 14 per cent year-on-year, helping return the retailer’s overall results to the levels expected by management. 

For the first seven months of 2026, Jumbo’s sales in Cyprus increased by around 6 per cent, keeping the market ahead of the group-wide growth rate. 

Across the Jumbo Group, sales climbed by approximately 9 per cent in July, accelerating from the 7 per cent increase recorded in June. As a result, sales for the January-to-July period were around 5 per cent higher year-on-year. 

The July improvement brought the group’s performance fully back in line with the guidance presented at its recent annual general meeting. 

Management continues to forecast full-year sales growth of approximately 5 per cent, while net profit is expected to range between €310 million and €320 million. 

The company said that “the stronger July figures were particularly encouraging given the fragile geopolitical environment and the continuing pressure facing Europe’s retail sector.” 

According to the group, the performance demonstrated the resilience of consumer confidence across its network, with its relationship with customers remaining stronger than the wider difficulties affecting the market. 

Greece also recorded solid growth during the month. The parent company’s net sales, excluding transactions between group companies, increased by approximately 10 per cent in July, while growth for the first seven months of the year reached around 8 per cent. 

However, Bulgaria produced the strongest July performance. Sales through the country’s physical store network and local e-commerce platform rose by approximately 21 per cent year-on-year. During the seven-month period, Bulgarian sales increased by around 13 per cent. 

Romania remained the only market to record a decline. Sales through the Romanian store network and online platform fell by approximately 3 per cent in July, while revenue during the first seven months of 2026 was down by around 6 per cent. 

Jumbo linked the weaker Romanian performance to fiscal tightening measures and difficult consumer demand.

Nevertheless, the group is pressing ahead with its investment programme in the country, with a new hyper-store in Baia Mare expected to begin operating before the end of the year.

Meanwhile, the retailer is continuing its expansion outside its established European markets. In early August, Jumbo’s local franchise partner opened the brand’s eighth store in Israel, with another store expected to follow by the end of 2026. 

The group’s first Jumbo store in Canada is also currently scheduled to open during the fourth quarter of the year. 

At the same time, the company welcomed the European Union’s decision to abolish the customs duty exemption previously applied to imports worth up to €150 from non-EU countries from July 1. 

The change was accompanied by the introduction of a temporary €3 handling charge per tariff classification.

Although Jumbo described the measure as strict, it said that “it represented an important first step towards creating fairer competitive conditions between European retailers and large international e-commerce platforms.”