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Portugal: Jerónimo Martins expanded aggressively: 215 new stores & Biedronka’s international rollout

Discount Retail Chain Biedronka and Ara's parent company Jerónimo Martins has successfully navigated a challenging 2025, a year defined by moderate consumer spending and heightened price sensitivity, by remaining steadfast in its strategic priorities. These focus areas included price leadership, continuous product portfolio innovation, and a commitment to enhancing store quality.


All brands under the Jerónimo Martins umbrella, discounters Biedronka, Ara, and supermarket Pingo Doce, achieved positive volume growth during the quarter. Biedronka, the group's flagship brand in Poland, also increased its market share throughout the year.


Furthermore, management indicated that they are seeing a strengthening of their market position. Looking ahead, the group’s preliminary outlook for 2026 is one of "confidence, despite geopolitical uncertainties that continue to impact household sentiment."


Steady Progress for Jerónimo Martins

In the fourth quarter of fiscal year 2025, Jerónimo Martins saw a 3% year-over-year increase in like-for-like (LFL) revenue, surpassing market analysts' expectations by 20 basis points.


2025: A Year of Consolidation

Following this trend, Jerónimo Martins' total revenue for 2025 grew by 2.5% in volume and 7.6% in reported revenue year-over-year. Management is scheduled to release more detailed annual results on March 18, 2026.


Focusing on the three core business pillars, analysts at Alpha Value noted that the Polish market shows no structural issues, as growth remains volume-driven and market share gains are steady. Ara supermarkets exceeded expectations despite a harsh environment, while the Portuguese market showed robust, albeit moderate, growth momentum.

A standout highlight of the year's ambitious investment plan was the official launch of the company’s international expansion: Biedronka took a decisive step by entering the Slovakian market, opening 15 stores and one distribution center.


Pingo Doce Adopts "Mercadona-Style" Strategy

Jerónimo Martins ended 2025 with a net addition of 215 stores, bringing its total network to 1,653 locations (including the integration of former Colsubsidio stores). For 2026, the company expects to intensify promotional efforts, with revenue growth primarily driven by sales volume.


Management anticipates continued market volatility in 2026, yet the company remains focused on price competitiveness and network expansion.


Industry observers note Pingo Doce’s role in Portugal is particularly significant as it competes directly with Mercadona. Pingo Doce maintained intense promotional activity throughout the year and pushed forward with its "All About Food" concept.


This strategy focuses on differentiation through fresh produce and ready-to-eat meal solutions, a direction that Juan Roig’s Mercadona has championed for years. Pingo Doce benefited from strong promotions and a store renovation plan that covered 52 locations. The Cash & Carry segment also performed well, driven by growth in the Horeca (Hotel/Restaurant/Cafe) channel.




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