ECONOMY

Jumbo’s sales hit by Covid-19 curbs in Bulgaria, Romania

jumbo-s-sales-hit-by-covid-19-curbs-in-bulgaria-romania

Greek retailer Jumbo saw revenues rise by a marginal 0.6% annual rate in October as Covid-19 curbs drove a double-digit percentage fall in Bulgaria and Romania, it said Thursday.

The group, which operates 52 stores in Greece and 28 in Romania, Bulgaria and Cyprus, said sales dropped 23% in Bulgaria.

A rise in Covid-19 infections forced authorities to impose restrictions on the number of people allowed to access retail outlets in the Balkan country, Jumbo said, adding that current trends pointed to a sales drop of possibly more than 50% in November.

In Romania, sales dropped by 1.6% last month. Bulgaria and Romania are the European Union’s least vaccinated countries and are grappling with a fourth wave of the pandemic. [Reuters]