Jumbo Sees Revenue Drop, Blames Tobacco Sales Ban

After several years of significant growth, supermarket chain Jumbo had to slow down last year. Not only did the revenue decrease for the country’s second-largest supermarket, but the Veghel-based company also lost half a percent of market share.

However, CEO Ton van Veen does not consider this a setback. The nearly 3 percent drop in revenue, down to 10.72 billion euros, is largely attributed to the cessation of tobacco sales in supermarkets: “We were disproportionately affected by this.

Additionally, we paused the opening of new stores last year.” Jumbo mainly invested in lowering prices last year. Van Veen points to a nearly three percent increase when tobacco sales are excluded.

“We have become more competitive by being more attractive to customers. Lowering prices reduces short-term revenue, but that is certainly not a catastrophe.”

Source: NOS

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