# Stores
21
(1 closing)
(1 refurbishment)
# Stores
18
(2 closings)
(2 refurbishments)
Highlights of the year
Implementation of a new visual communication line, in Jeronymo, to reinforce proximity
Assortment optimisation of the coffee shop assortment, for a clearer and stronger offer
Launch of the “Coffee & Friends Sessions” initiative
Decision, at the end of the year in which its 35th anniversary was celebrated, to discontinue Hussel’s operations
Additional information, particularly about our sustainability initiatives, may be found in Chapter "Sustainability" of this Report.
Message from the CEO
The year 2025 was a difficult one for the companies given their operating environment.
Jeronymo continued to restructure its operations with a profound change in management. Its business model was redefined to simplify operations and improve efficiency, ensuring profitability in an expectedly challenging future marked by continued increases in key costs and margin pressure driven by consumer price sensitivity.
With regard to Hussel, following an in-depth analysis and painstaking efforts to restore the Company’s viability, a decision was made to discontinue this operation until April 2026.
We recall that in 2024, Hussel GmbH, Jerónimo Martins’ German partner in Hussel, filed for insolvency, putting an end to the partnership on which the operation in Portugal was based, resulting in supply disruptions and loss of scale. Against a backdrop of sharply rising costs, related mainly to rent and raw materials, these difficulties became insurmountable.
In 2026, we will focus our strategy on growing Jeronymo’s sales and refurbishing its five high-performing stores, boosting productivity in order to strengthen the banner’s profitability.
Francisco Soares dos Santos
Performance
Throughout 2025, Jeronymo significantly strengthened both its offering and its communication, with a strong focus on operational and commercial performance, which resulted in sales growth of 6.1% year-on-year.
In the first quarter, the banner prioritised breakfast and lunch menus, promoting fortnightly initiatives in the pancakes and toast categories, accompanied by beverages.
In the continuous pursuit of innovation to further align the offering with customer needs, menus have been simplified and the offering improved with the launch of new products, including the pulled pork sandwich in partnership with Pingo Doce’s central kitchen.
Visual communication was improved through an updated menu featuring real product images and the introduction of illustrations as a distinctive element of the brand’s identity, promoting greater visual coherence in packaging, campaigns, and on social media.
With regard to in-store communication, new promotional materials were introduced, and store windows were refreshed with vibrant illustrations as part of the rebranding process.
In 2025, Jeronymo also invested in the development of a specialised coffee assortment and in team training, with the support of a Head Barista that has boosted the banner’s position as a benchmark in the coffee shop world.
In October, the newly renovated kiosk in Lisbon’s Colombo shopping centre reopened boasting the new Coffee & Friends concept, marking a new phase in the shopping experience.
The “Coffee & Friends Sessions” initiative was also launched in the same month to energise mornings, with the first edition taking place in one of Lisbon’s coffee shops. Stories about the event were shared on social media, on Jeronymo’s Instagram and TikTok, boosting brand recognition and presence.
With regard to Hussel, and coinciding with the celebration of its 35th anniversary, the team worked tirelessly to meet sales targets, placing greater emphasis on various themed campaigns throughout the year, increased social media activation, and a focus on indulgence. These efforts to drive turnover were designed to counterbalance the pressure of rising cost inflation both in terms of the cost of goods – due to supply chain constraints, limited scale and increases in cocoa prices – and in personnel expenses and, most notably, escalating rental and space usage costs.
When it became clear that 2025 would be another year of losses for Hussel, compounded by the expectation of further increases in fixed costs in the years ahead, several strategic scenarios for the business were carefully evaluated. This assessment ultimately led to the decision to discontinue the operation in early 2026. A comprehensive communication plan was subsequently prepared for all stakeholders, aimed at minimising, insofar as possible, the impact of the decision, starting with employees, who were ensured job continuity within the remaining Jerónimo Martins Group companies in Portugal.