Hypermarkets

Jumbo Group on Wednesday said its turnover grew by 14.12% in 2022 compared with the previous year, totaling 949 million euros, and reported a 40% jump in sales in the first two months of 2023.

ECM Partners, a Cypriot-owned investment fund, is putting the finishing touches to a deal to acquire Starbucks in Greece and Cyprus.

CarrefourSA, one of Turkey's largest retailers, plans to add 300 new outlets to its vast network of supermarkets this year.

"Some 250 of the stores will open under the franchising system. In 2022, already 80 such stores were launched by March," said Kutay Kartallığoğlu, the general manager of CarrefourSA.

The blockchain technology, known until now in the financial industry, will be applied, for the first time, in the Romanian food sector, offering consumers the possibility of discovering information, straight from the farm, regarding the origin and quality of the produce they consume.

Two of France's biggest supermarket groups were locked in a dispute on Sept. 24 after Casino said it had rejected a tie-up approach from larger rival Carrefour that Carrefour denied ever making.

Goldman Sachs was mandated by German retailer Metro, to find a buyer for real estate owned by the company in Romania and Bulgaria.

Jumbo, Greece's biggest listed retailer, on Monday posted an 8 percent rise in net profit for the fiscal year to end-June, mainly due to robust growth in Bulgaria and Romania.

Net profit for the 12 months came in at 131 million euros, up from 121 million euros in the year-ago period. It will pay a total dividend of 0.36 euros a share.

Shares in Carrefour slumped on Aug. 31 after the world's second-largest retailer warned 2017 operating profit could fall by around 12 percent.

Carrefour shares were down by around 10 percent in early trading, while Carrefour's French rival Casino also lost ground.

Greek retailer Jumbo posted on Tuesday a 6.8 percent rise in sales for its fiscal year to the end of June, thanks to strong growth in Romania and Bulgaria. It said it expected sales to rise by 6 to 9 percent in the next 12 months.

Jumbo has fared well because of its low-cost products and foreign operations despite seven years of austerity in Greece.

Delays in the process of streamlining the Marinopoulos supermarket chain are having a direct impact on the property market too, as the owners of the properties that house the chain's stores are suffering from the debts that have accumulated over the last 18 months.