ECONOMY

Toy sales resilient to downturn

Greece’s largest toy retailer Jumbo reported a 15.5 percent rise in sales for the 10-month period ending in April, with growth coming from domestic operations, Cyprus and Bulgaria, the company said yesterday. Jumbo, which operates 41 stores in Greece, two in Cyprus and one in Bulgaria, said in a bourse filing that continued strength in its local network and the «exceptional» performance of its Bulgarian branch contributed to the sale figure. Brokerage National P&K said the results were in line with the company’s guidelines, describing sales as showing resilience to the global economic crisis. Shares in Jumbo, which has a market capitalization of 800.1 million euros, closed unchanged at 6.60 euros on the Athens bourse yesterday, versus a 1.42 percent advance on the broader market. Jumbo added that it expects to open its second store in Bulgaria by July next year. The company is scheduled to unveil nine-month earnings on May 20.