Jeronimo Martins falls as geopolitical uncertainty hurts sentiment

Jeronimo Martins SGPS SA

19/03/2026 09:13

** Shares in Jeronimo Martins JMT.LS fall around 3% after the Portuguese food retailer posted a 2.3% rise in Q4 net profit on Wednesday, but warned heightened geopolitical uncertainty weighed on consumer sentiment

** J.P. Morgan says that while the company had a sound year, the Q4 net income missed expectations, dragged down by refurbishment write-offs, restructuring costs and provisions for legal contingencies

** Jefferies notes the company removed language around confidence from its initial 2026 outlook and flags Polish Biedronka chain operating in basket deflation early in 2026

** "Whether rising energy prices have yet impacted consumer behaviour will be a key focus of the call," Jefferies adds

** The stock was up 6.3% year-to-date as of Wednesday's close

(Reporting by Marta Serafinko in Gdansk)

((marta.serafinko@thomsonreuters.com ; +48 58 769 66 00;))