Jumbo Retail Reports Robust Sales Growth and Strategic Expansion Amid Global Market Challenges

by THEFUTURE.TEAM

September 4, 2025

Strong Performance Across Key Markets

Greek retailer Jumbo has achieved an 8 percent year-over-year increase in sales for the January–August 2025 period, underscoring its resilient market position despite prevailing inflationary pressures, increased VAT in Romania, and global economic uncertainty. In Greece, the parent company reported a 7 percent rise in net sales in August, with a 9 percent gain over the first eight months of the year. Cyprus experienced a robust 12 percent jump in August, translating to an approximate 9 percent year-to-date growth. Meanwhile, Romania’s combined online and offline sales grew by 8 percent in August and 7 percent in the period, and Bulgaria saw August sales up by 7 percent, though year-to-date growth was a modest 3 percent, reflecting a deceleration compared to the previous year.

Operational Efficiency and Asset Acquisition

In addition to its encouraging sales performance, Jumbo has made significant strides in improving its operating efficiency. The group has strategically acquired several leased properties, investing approximately €39 million between 2021 and 2024 to purchase five outlets in Greece and Romania. This year alone, Jumbo has completed acquisitions for two additional leased stores in Greece and is finalizing transactions for two more locations in Patras and Athens. These investments are set to propel the company into owning roughly 70 percent of its 89 retail outlets across Greece, Cyprus, Bulgaria, and Romania, positioning the firm to better control its asset base and operational costs.

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Focus on Romania for Future Growth

Romania remains a focal point of Jumbo’s expansion strategy. The retailer currently operates 20 stores in the country, complemented by an expanding online platform. With plans to double its network in Romania over the next eight years, the company has already inked an agreement for a new store in Baia Mare, signaling its commitment to tapping into the region’s growth potential.

Outlook for the Full Year

The latest performance metrics bolster management’s full-year outlook, with projected group sales growth of approximately 4 percent and profitability levels expected to remain on par with 2024. Jumbo’s balanced strategy of leveraging strong regional performance and pursuing asset optimization initiatives exemplifies its capacity to navigate complex market conditions while preparing for sustainable long-term growth.

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Cyprus Income Distribution 2024: An In-Depth Breakdown of Economic Classes

by THEFUTURE.TEAM

December 24, 2025

New findings from the Cyprus Statistical Service offer a comprehensive analysis of the nation’s income stratification in 2024. The report, titled Population By Income Class, provides critical insights into the proportions of the population that fall within the middle, upper, and lower income brackets, as well as those at risk of poverty.

Income Distribution Overview

The data for 2024 show that 64.6% of the population falls within the middle income class – a modest increase from 63% in 2011. However, it is noteworthy that the range for this class begins at a comparatively low threshold of €15,501. Meanwhile, 27.8% of the population continues to reside in the lower income bracket (a figure largely unchanged from 27.7% in 2011), with nearly 14.6% of these individuals identified as at risk of poverty. The upper income class accounted for 7.6% of the population, a slight decline from 9.1% in 2011.

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Income Brackets And Their Thresholds

According to the report, the median equivalent disposable national income reached €20,666 in 2024. The upper limit of the lower income class was established at €15,500, and the threshold for poverty risk was set at €12,400. The middle income category spans from €15,501 to €41,332, while any household earning over €41,333 is classified in the upper income class. The median equivalents for each group were reported at €12,271 for the lower, €23,517 for the middle, and €51,316 for the upper income classes.

Methodological Insights And Comparative Findings

Employing the methodology recommended by the Organisation for Economic Co-operation and Development (OECD), the report defines the middle income class as households earning between 75% and 200% of the national median income. In contrast, incomes exceeding 200% of the median classify households as upper income, while those earning below 75% fall into the lower income category.

Detailed Findings Across Income Segments

Upper Income Class: Comprising 73,055 individuals (7.6% of the population), this group had a median equivalent disposable income of €51,136. Notably, the share of individuals in this category has contracted since 2011.
Upper Middle Income Segment: This subgroup includes 112,694 people (11.7% of the population) with a median income of €34,961. Combined with the upper income class, they represent 185,749 individuals.
Middle Income Group: Encompassing 30.3% of the population (approximately 294,624 individuals), this segment reports a median disposable income of €24,975.
Lower Middle And Lower Income Classes: The lower middle income category includes 22.2% of the population (211,768 individuals) with a median income of €17,800, while the lower income class accounts for 27.8% (267,557 individuals) with a median income of €12,271.

Payment Behaviors And Economic Implications

The report also examines how income levels influence repayment behavior for primary residence loans or rental payments. Historically, households in the lower income class have experienced the greatest delays. In 2024, 27.0% of those in the lower income bracket were late on payments—a significant improvement from 34.6% in 2011. For the middle income class, late payments were observed in 9.9% of cases, down from 21.4% in 2011. Among the upper income class, only 3% experienced delays, compared to 9.9% previously.

This detailed analysis underscores shifts in income distribution and repayment behavior across Cyprus, reflecting broader economic trends that are critical for policymakers and investors to consider as they navigate the evolving financial landscape.

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