Jeronimo Martins' nine-month net profit falls amid tough competition

Oct 28 (Reuters) - Portuguese retailer Jeronimo Martins JMT.LS said on Wednesday its net profit in the first nine-months fell 14.5% compared with the same period a year ago to €414 million ($460.37 million).

• The company, whose main market is Poland, booked sales revenue of €27.82 billion in the period, up 4.8% from the first nine months of 2025

• Jeronimo Martins reiterated the 2026 outlook it provided in July

• In Poland, the company said its biggest chain, Biedronka, reported earnings before interest, taxes, depreciation and amortization up 4.2% in the first nine-months thanks to a revamping of its stores

• Biedronka delivered strong volume growth and mitigated the impact of significant basket deflation, posting solid sales and margin performance, the company said

• Looking towards the end of the year, Chief Executive Pedro Soares dos Santos said he expects the competitive environment to remain very demanding and sees no easing of the pressure from fuel costs on businesses and household incomes

  ($1 = 0.8993 euros)