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Jumbo Achieves Robust Growth Amid Geopolitical Strains And Fiscal Shifts

by THEFUTURE.TEAM

July 11, 2025

Greek retail powerhouse Jumbo has posted impressive sales growth for the first half of 2025, demonstrating resilience amid escalating geopolitical tensions in the Middle East and anticipated tax adjustments in Romania. The strong performance of its stores in Cyprus and Greece underscores the company’s ability to navigate complex international dynamics while sustaining market expansion.

Robust Performance Driven By Core Markets

Despite a challenging global backdrop, Jumbo maintained an approximate 8% year-on-year sales increase over the period. In Greece, the parent company achieved a 7.5% rise in net sales in June (excluding intercompany transactions), contributing to an overall first-half growth of nearly 9%. Meanwhile, the Cypriot market registered a 4% increase in June, with first-half figures reaching a 7% improvement compared to 2024.

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Dividend Policy Enhances Shareholder Value

At the annual general meeting on July 9, shareholders endorsed the management’s proposal for a dividend of €68 million (€0.50 per share) for fiscal year 2024. Following the cancellation of 1,694,198 treasury shares — representing 1.25% of total shares — the gross distribution per share was adjusted to €0.5063. With key dates set, the ex-dividend date was July 21, the record date July 22, and payments scheduled for July 24. This dividend payout, in conjunction with an earlier extraordinary distribution of €63.5 million on March 31, culminated in a total shareholder return of €131.5 million by the end of July, translating to an approximate dividend yield of 3%.

Diverse Regional Performance And Strategic Initiatives

While Greek and Cypriot markets drove robust growth, other regions experienced varied results. Bulgaria recorded modest advancements, with June sales rising by 1% and a two-fold year-on-year increase of around 2% following the launch of a local online store. In Romania, both physical and online operations managed a 7% growth in June, doubling back to a similar performance rate during the first half of 2025, although the management has flagged potential short-term headwinds.

Geopolitical And Fiscal Headwinds

Management highlighted that the Israel-Iran conflict notably disrupted tourist inflows from Israel to Greece and Cyprus, adversely affecting operations at franchisee outlets in Israel. Additionally, upcoming fiscal adjustments in Romania, including an anticipated rise in VAT from 19% to 21% scheduled for August 2025, are poised to impact consumer spending particularly in sectors such as catering and hospitality.

Forward Outlook

Operating across 89 stores in four countries with complementary online operations throughout Greece, Cyprus, Romania, and Bulgaria, Jumbo remains well-positioned to capitalize on its geographic diversification and established market presence. The group’s strategic focus on both physical and digital platforms, coupled with a robust dividend policy, reinforces its commitment to generating long-term shareholder value amid a dynamic global economic landscape.

The Future Forbes Realty Global Properties

by News Editor

August 24, 2026

Courts Are Still Applying Old Copyright Rules To AI

AI companies train models on enormous amounts of published material, including books, articles and academic research. Whether using that content without authors’ permission violates copyright law remains unresolved.

Much of the debate centres on fair use, which allows copyrighted material to be used without permission in certain circumstances. Courts consider factors such as the purpose of the use, how much material was involved and its impact on the original market.

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Anthropic Case Sets An Important Precedent

A major case involving Anthropic and a group of authors provided one of the clearest rulings so far. Judge William Alsup found that using copyrighted books to train AI models was lawful, comparing the process to people reading and studying literature before creating something new.

Anthropic was nevertheless ordered to pay $1.5 billion in a settlement. The penalty concerned books the company had obtained from illegal online libraries rather than the AI training itself.

For AI companies, that distinction could prove significant because it separates studying copyrighted material from directly copying it.

Competition Could Be The Key Issue

A case involving Thomson Reuters and Ross Intelligence offers a different perspective. A court ruled that Ross could not claim fair use after using Reuters’ copyrighted material to develop a competing AI-powered legal research platform.

The decision suggests courts may be less willing to consider AI training fair use when copyrighted content is used to build a product that directly competes with the original.

For authors, an unresolved question is whether AI-generated content should be considered competition for the works used to train these models.

The Law Has Yet To Catch Up

US copyright law predates generative AI by decades, leaving courts to apply old principles to new technology. Questions also remain over copyright protection for AI-generated works. In Thaler v. Perlmutter, a court ruled that material created entirely by AI cannot receive copyright protection.

Major AI companies remain involved in copyright litigation, and different courts could reach different conclusions. For now, there is no universal rule: the legality of AI training will depend on the circumstances of each case and how courts ultimately interpret copyright and fair use.