Jeronimo Martins' profit drops, outlook reaffirmed as sales still rise

Jeronimo Martins SGPS SA

06/05/2026 17:43

Refiles to add last line inadvertently cut off

LISBON, May 6 (Reuters) - Portuguese retailer Jeronimo Martins posted on Wednesday a 6.8% drop in first-quarter net profit, driven by interest and exchange rate impact from the capitalisation of leases, even as net sales rose 6%, including by 3.6% in its main market Poland.

Net profit totalled 119 million euros ($139.84 million).

It said geopolitical events such as the war in Iran had led to a rise in costs, particularly in fuel, while consumers remained cautious about food spending, continuing to favour low prices and promotions. Still, it reiterated its 2026 outlook.

($1 = 0.8510 euros)

(Reporting by Andrei Khalip)

((andrei.khalip@thomsonreuters.com; (351) 213-509-209))