Jeronimo Martins SGPS SA (JMT)’s Pingo Doce supermarkets increased their share of Portugal’s household grocery spending after cutting prices by 50 percent during a one-day sale last month, according to a study by market researcher Kantar Worldpanel.
Pingo Doce’s market share surged 5.8 percentage points in May to more than 32 percent, while almost all of its rivals’ shares in mainland Portugal dropped, Kantar said in a statement on its website.
Jeronimo Martins is Portugal’s biggest retailer by market value and owns Biedronka in Poland, that country’s biggest discount grocer.
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