Jeronimo Martins: Poland's Biedronka led growth in 2020

(CercleFinance.com) - Portuguese retailer Jeronimo Martins reported on Wednesday a 3.
5% rise in sales for 2020, despite the particularly difficult context due to the Covid-19 pandemic.

The largest food retailer in Poland and the second-largest at home said that total net sales rose to 19.3 billion euros last year, from 18.6 billion euros in 2019.

In Poland - where the company is the largest food retailer - sales rose 6.7% to nearly 13.5 billion euros, it said. Like-for-like sales at Biedronka grew 10.4%, it noted.

Citing the stress of Covid, the retailer said that all of its chains are prepared to face "an operational context that will remain very demanding in 2021."

The shares were up 1.6% in Lisbon after the report.

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