Pingo Doce sales skyrocket 21.5%

Portuguese food distribution company Jérónimo Martins that owns the Pingo Doce supermarket chain has enjoyed an increase in sales of 21.5% to €4.5Bn in 2021 – a like for like growth of 11.2%.

Sales alone increased 21.5% to €25.4Bn with a “solid performance posted for all of its brands”. In the fourth quarter sales for the group that owns Pingo Doce and Biedronka in Poland increased 23% to €7Bn.
The company admitted, however, that “increases in inflation” were also a factor for the company’s excellent results which were sent to the Portuguese stock market supervisor CMVM on Thursday.
“While not ignoring some role played by inflation, we are very pleased to post an excess of €2.5Bn in sales in the year that Jerónimo Martins celebrates 230 years of trading”, says Pedro Soares dos Santos, President of Jerónimo Martins in a communiqué
“We would like to thank publicly the dedication and commitment shown by our staff who once again worked in demanding and unpredictable environments and were a force behind the group’s solid performance.
“In recognition of this effort, and given the rapid increase in the cost of living, we are awarding an exceptional payment of around €45 million in bonuses to our operational teams, of which €23 million was paid out in the last quarter of 2022”, states the president of the Portuguese grocers.