In November 2021, all stores in Greece and Cyprus remained open and as a result the Group's sales recorded an increase of approximately + 60% compared to November 2020 when during a part of the month the total number of stores in Greece and three of the five stores in Cyprus were closed (lockdown).
In November, as the Group's management had timely informed its shareholders -partners, in Bulgaria and Romania a significant decrease in sales was recorded.
Vaccination coverage in these countries remains in extremely low levels, while transitional governments in their attempt to face the new Covid-19 wave are imposing extremely strict measures.
Sales performance by country
Greece
In November 2021 the total number of the stores in Greece remained open. However, due to the increase of Covid-19 cases new restrictions were implemented at the retail market, creating conditions of unfair competition in relation to the Hyper-Market stores, as:
- adults who have not been vaccinated or recovered must present a negative rapid or PCR test and children should present a negative self-test in order to enter a store
- the opening hours of the stores were reduced by one hour from Monday-Friday.
In total, during the 11 months of the year (January-November 2021) the net sales of the parent company - excluding intragroup sales - were increased by approximately +14% y-o-y.
Cyprus
All stores continued to operate with a restriction on the number of customers allowed in the stores who had to hold a safe pass.
Sales in November 2021 recorded an increase of approximately +23% y-o-y. For the 11months of 2021, sales were increased by approximately + 12% y-o-y.
Bulgaria
The stores continued to operate with extremely strict restrictions for the country, which means with a restriction on the number of customers allowed in the stores and the control of the incoming customers for certificates.
During November 2021, a decrease of approximately -36% y-o-y was recorded. For the 11months of 2021, the sales increase has been narrowed at approximately +0,4% y-o-y.
Romania
The stores continued to operate with a mandatory control of the incoming customers.
Sales in November 2021, recorded a decrease of approximately -18%y-o-y. For the 11months of 2021, sales were increased by approximately + 11% y-o-y.
As we head towards the final stretch of the Christmas season and unless there is any remarkable change in Bulgaria and Romania, the trend of sales in these countries is likely to continue to be negative during December. In addition, the continuous tightening of the existing restrictive measures or the imposition of new ones on the operation of retail market in Greece and Cyprus may have an impact on the Group's sales as December is the most important month for the annual performance.
