“Geopolitical events in the first quarter of the year deepened uncertainty for businesses and consumers. Against this background and with the already clear increase in costs – especially fuel – consumers remained cautious about food spending, continuing to prefer low prices and promotions” – we read in the report of the Portuguese company Jeronimo Martins, owner of, among others, the Biedronka chain. The report concerns financial results in the first quarter of 2026.
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“Additionally, in Poland our main chain (Biedronka – ed.) started the year operating in deflationary conditions in its basket in a highly competitive environment. All companies focused on their strategic priorities, maintaining price competitiveness and conducting effective promotions to ensure consumer trust and preference,” we read further.
Food inflation in Poland. Biedronka owner: downward trend
The report stated that in Poland, food inflation shows a downward trend from September 2025, achieving on average:
— 2.8 percent in the fourth quarter of 2025
— 2.3 percent in the first quarter of 2026
— 2.1 percent in March.
“Food retail demand was subdued and the competitive environment was intense, particularly in the run-up to the Easter season in late March,” the report said.
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Biedronka sales
In the first quarter of 2026, Biedronka's sales increased by 3.6%. to the level of EUR 6.2 billion (an increase of 4.5% in local currency).
The LFL (comparable sales) indicator was 2.3%, despite significant deflation in the basket.
LFL (Like-for-Like) sales, i.e. in comparable stores, is a key performance indicator in retail, measuring revenue growth without taking into account new openings or closings.
The report for the first quarter emphasized that the last week of March included part of the Easter effect, which in 2025 fell entirely in the second quarter.
“Biedronka maintained its focus on discipline in cost management, which, together with the increase in sales, led to an increase in EBITDA by 4.6% (+5.5% in local currency), reaching the level of EUR 482 million, with a margin of 7.8% (7.7% in Q1 2025),” we read.
Biedronka opened 12 stores in the first three months of the year (3 net stores) and completed 36 modernizations.
Jeronimo Martins Results
The owner of Biedronka, the Portuguese Jeronimo Martins Group, had a net profit of PLN 119 million in the first quarter – more than 6 percent. less than a year ago.
Sales increased by 6.3%. to the level of EUR 8.9 billion (by 6.7% at constant exchange rates).
EBITDA increased by 8.4%. up to EUR 572 million (by 9 percent at constant exchange rates), with an EBITDA margin of 6.4 percent. (compared to 6.3% in the first quarter of 2025).
The general meeting of shareholders, held on April 23, approved the management board's proposal to pay a dividend of EUR 0.65 per share (gross amount), giving a total of EUR 408.5 million, payable on May 12.
