According to Haitong Bank analysts forecasts, the Biedronka chain owned by Jeronimo Martins recorded an increase in LfL sales by 2%. in the last quarter, compared to 0.8 percent. in the third quarter of the year, The improvement in the LfL result is mainly the effect of the smaller impact of the Sunday trading ban and increased pre-holiday purchases.
Experts predict that Biedronka’s sales will increase by 4.6 percent. at constant exchange rates and by 3.1 percent. in the euro currency.
As the analysts of Haitong Bank emphasize in the fourth quarter of 2018, the consumer environment in Poland was very favourable, and retail sales of food accelerated from 1.9%. in the third quarter to 3.6 percent. in October and November. Food price inflation fell from 2.2 percent. in the third quarter to 1.1 percent. in the fourth quarter, but the sales volumes increased.
There is still no data for December last year, which is the key month in Q4, which is why experts in the case of Biedronka “securely” forecast an increase in sales of LfL at 2%. This means an acceleration of q / q, mainly due to the higher number of trading days (5 days without trading instead of 8). When it comes to inflation in the basket, according to experts, it could be consistent with the data for the third quarter and was at 1.3 percent. despite lower food CPI.