Biedronka with 9.2% LfL sales growth in Q2

Retail chain Biedronka, owned by Portuguese Jeronimo Martins, had a 9.2 percent increase in like-for-like sales in Q2 2017, Jeronimo Martins said in a market filing. Sales in PLN increased by 11.8 percent y/y and reached €2.8 billion. “The consumer environment remained positive despite price increases in some categories, which led food inflation in the country to accelerate to 3.7 percent in May and June. The competitive environment remained intense and highly promotion-driven,” Jeronimo Martins said. Biedronka's EBITDA for H1 amounted to €375 million, which is a 14.6 percent growth y/y. At end-Q2, the chain had 2,741 stores. Other Jeronimo Martins owned Polish chain, drugstore Hebe had 33 percent increase in sales with revenues reaching €75 million.