Jeronimo Martins has reported on a year of 'strong growth' during 2010, a 12-month period that it said has reinforced the retailer's leadership, with consolidated sales growing 18.7 per cent to €8.7bn.
The sales performance reflected the strong like-for-like sales growth for banners such as Biedronka in Poland (up 11.6 per cent compared with 2009), Pingo Doce (up 7.2 per cent) and Recheio (up 3.2 per cent), the group said.
'In Portugal, Pingo Doce and Recheio made a stronger effort to differentiate their commercial propositions, for which the quality of the perishables and the private brand continued to play an essential role,' the group noted. 'Being aware of the challenges that the economicenvironment has been bringing since 2008, both banners developed more aggressive commercial efforts in their communicationswith consumers and customers.'
In addition, Jeronimo said that the results reflect Biedronka's 'remarkable ability' to execute its expansion programme, having opened 197 new locations and ending the year with a total of 1,649 stores.
