The Greek retailer Jumbo wants to increase its number of stores in Romania to 25 from 8 currently, the company announced in the local media. Jumbo aims to inaugurate three new toy hypermarkets in the following year only, by June 2018. The retailer opened only one hypermarket in the past year (Jul 2016 – June 2017), when it increased sales by 36% y/y to almost EUR40m and the profit jumped by over 50% to EUR14m. The financial and operational performance in Romania is notable considering that the entire group reported less than 7% y/y increase of sales in the period. Jumbo has 51 stores in Greece, 5 in Cyprus, 9 in Bulgaria and 8 in Romania.
Jumbo entered the Romanian market in 2013 and has constantly invested in expansion since then. The company currently employs more than 600 persons and its contribution to the group’s sales and financial performance is on the rise. Jumbo representatives previously declared that investments in Romania are to continue on medium-term.